Canada Core Retail Sales m/m 09/22/09

Newsletter

Zero spam.

8:30am (NY Time) CA Core Retail Sales m/m Forecast 0.1% Previous 1.0%

Definition
Our focus will be on the Core Retail Sales release, which is a measurement of the activities at the retail level of Canada, excluding most volatile Automobile Sales Components, which makes up about 25% of Retail Sales headline number. A higher Retail sales number means better economy, thus better for its currency. And of course the CORE reading provides a more accurate look at the retail spending of the economy.

3rd Party Advertisement

Update
Canadian Retail Sales came out much worse than expected, which caused an immediate weakness in the CAD and upward movement in the USD/CAD pair. I waited for proper retracement while explaining to the trade room of a possible reversal due to market cycle, we got in at 1.0700… in about 30~40 minutes, we made over 30 pips on record and close the trade happy!

About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

Speak Your Mind

*

Newsletter

Zero spam.