We´ll be getting the Canadian Employment Change release number tomorrow, here is the forecast:
8:30am (NY Time) CAD Employment Change Forecast 10.0K Previous 7.3K
I´ll also pay close attention to the unemployment rate, which is expected to stay at 7.3%. As long as this number does not conflict with the Employment Changes, we should follow the direction of the news release. If we get a conflict, such as better Employment Changes but higher Unemployment Rate, then we´ll need to look at the context of the market before taking the trade.
I´ll be looking to trade this release using my after-news Retracement Method. To find out more about my trading system, read:
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: USDCAD.
CA Employment Change | August 10, 2012 | Forex Analysis
August 3, 2012 by Leave a Comment