USDCAD Bananas: Watching

31 thg 5, 2016

In one hour (8:30 am EST), economic releases coming our for the U.S.A. and Canada.

Canada's GDP is expected to remain the same as last time (-0.1%). I believe that it will be the same or worse. When I look at Canada's retail sales, not including auto sales, I think of a bad story playing out: tradingeconomics.com/canada/retail-sales-ex-autos

In contract, the USA's retail sales have been doing well for the past two months, especially last month (tradingeconomics.com/united-states/retail-sales-ex-autos), maybe because of the Mother's day holiday. So, I think personal spending and the PCE index will be potentially be a catalyst.

It looks to me that USDCAD could present a good trading opportunity. I would lke to put myslf in alignment with future market forces; however, I don't see a set-up yet.

References:
Retail Sales Rise Most in a Year, Marking U.S. Consumer Comeback: bloomberg.com/news/articles/2016-05-13/retail-sales-rise-most-in-a-year-marking-u-s-consumer-comeback

31 thg 5, 2016

Giao dịch đang hoạt động

bought it!

31 thg 5, 2016

Ghi chú

....and the market goes Bananza!

31 thg 5, 2016

Ghi chú

In one hour, the Consumer Board of Confidence is coming out at 10am EST. I believe that it will be positive, given my knowledge; however, the Chicago PMI will come out before that at 9:45 am EST, and this is something that I usually watch for and cannot predict.

Maybe the market will stall. I may or may not exit position. I cannot write long words and trade tiny time frames like this at the same time. Well, I am doing it. hehe...So, I can.