Forex Signal (Fri, May 21, 08:30 am EST) Canadian Core Retail Sales m/m

[Crazy Cat]

Hi there

On Friday, May 21st, at 08:30 am New York Time we will have Canadian Core Retail Sales m/m coming out. It is expected to read 0.5. Last month it read -0.1.

Please read what this indicator means and how it affects the USD/CAD by going to this link: https://www.forexpeacearmy.com/fore...-descriptions/7615-canadian-retail-sales.html

This is not a big mover, and for now I typically skip this report. You may try to scalp a few pips but I don't like this report to trade so I am going to pass it. We will see, who knows, maybe it will surprise this time. To be honest, I don't like surprises so it's not for me......

Two months ago we had a pretty good deviation and not so impressive price action although I must admit it was hard to lose money on it too.

If you want to trade it, the trigger for this indicator is 1.2. This means that if Canadian Core Retail Sales m/m comes out at 1.7 or higher, USD/CAD will probably go down by 30 pips or more in the first 45 minutes of the report. If it comes out at -0.7 or more negative, USD/CAD will probably go up by 30 pips or more in the first 45 minutes of the report.

Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

In addition to the Canadian Core Retail Sales m/m number, we will have regular Canadian Retail Sales m/m coming out. If they conflict, I recommend skipping the trade, but usually they don't conflict, since core retail sales is part of regular retail sales, except it doesn't include volatile items such as energy and food.

To read the after-spike retracement strategy for this report click here: https://www.forexpeacearmy.com/fore...l-sales-after-spike-retracement-strategy.html

For example: on March 19, Canadian Core Retail Sales m/m came out at 1.8, versus an expectation of 0.5. USD/CAD went down by about 30 pips. See for yourself what happened on this chart: ]Forex news trading currency exchange charts

I highly recommend you study the entire history and charts of this report by following this link: Forex News Trading | Details and History for CAD Core Retail Sales m/m

I hope you make some money on this report but be extremely careful.
-Crazy Cat

 

[DaveO]

CAD CPI tomorow.

Hi Crazy Cat,

I am finding your forecast #'s do not tally with the forex factory calender. Is there a better calender I could refer to ?

Also please, what news stream service would you recommend for forex for instant alerts, news announcements and salient commentary without having my earoles abused. Preferably a written commentary. Probably mean installing software I guess.

Thank you.

 

[yappyzk]

Try tradethenews.com for news announcements and alerts etc. speedy written and voice commentary

 

[DaveO]

Try tradethenews.com for news announcements and alerts etc. speedy written and voice commentary

Thanks yapp buddy. Will do.

 

[West Coast Pips]

What a nasty release!

Well I am not sure about you guys but I took a big loss on CAD retail sales. The spikes for all the CAD pairs were terrible considering the big deviation. I guess I am not going to trade this report for some time now. Most strange with headline in agreement with core also.

 

[Boko Maru]

Well I am not sure about you guys but I took a big loss on CAD retail sales. The spikes for all the CAD pairs were terrible considering the big deviation. I guess I am not going to trade this report for some time now. Most strange with headline in agreement with core also.

-19 pips here...looks like price reacted well after a time, but first several minutes were a total rejection of the news. As stated on Sir Pips thread, we might be into another time where trading against the news is more reliable than trading with it. Still too soon to tell I guess, but yeah, this report is off my list for a little while at least!