Canadian GDP
It Measures Change in the value of all goods and services produced by the economy.
Economist Expectations : 0.3
Huskins Expectations: Less than 0.2
Manufacturing is the biggest component of the Canadian GDP,
Ref: http://www40.statcan.ca/l01/cst01/gdps04a.htm
And Canada’s largest trading Partner happens to be the USA. We do know that the US economy is Tanking looking at the latest figures released out of the USA , hence I do not expect any increase at least in the manufacturing side of the GDP.
The other major component is Mining and Oil and GAS extraction, even with the High oil prices, there does not seem to be an increase in Mining revenues, perhaps signaling a capacity maximization.
Hence I expect The GDP not to grow as much as the Economist are predicting.
However the Canadian GDP should assume a new Importance, because the BOC would be looking at those #s closely after they did not reduce the Interest rate during the last announcement against the market expectations.
Any Contraction of the GDP should have the BOC perhaps revisiting their decision. Any expansion on the GDP (If its less than 0.7) would not change the opinions of the BOC.
Trading Suggestions:
Look at Usd/Cad.
If #> expected Sell , If # < Expected Buy.
I would be Looking at Pre-News trading (If Price is above/Below the 60 SMA on the 30 mint , 15 Mint, 5 Mint and 1 Mint Chart)
Spike Trading on Triggers of 0.2 Div with the Technicals Backing. Or on a Div of 0.4.
This report tends to make a high/low within the first 5 mints, I would be looking reverse trade the #s after the high /low is formed , expecting at least a 70% retracement.
Pre News Setup:
I will Look at the price with relation to the 60 SMA on the 1 mint , 5 mint and 15 Mint Chart, if all of them are in line , I will place a PRE-News trade in line with the Technicals, Place a Reverse Spike 60 pips away.
If news is In line with the Technicals, hold for 30 pips profit, wait for a High/Low to be formed in 5 mints , and Look to trade against the # Expecting to Hit Pre Release with the SL being 1 Pip above/below the 5 mint High/Low.
If the News is against the Technicals, wither the spike against the prenews , perhaps add to the position 60 pips away from pre-release with a Total SL of 75 pips. Expect Technicals to kick in.
If News is as expected, look at the market reaction, and exit Prenews trade with a Small profit/Loss.
Spike With Technicals: 30 Pips to 60 pips
Small Spike Against Technicals: 10- 20 Pips
Big Spike Against Technicals: 60 pips with 70-80% retracement within 15 mints.
If you want to subscribe to my analysis and trading statergy for news releases please visit : http://groups.google.ca/group/huskins
It Measures Change in the value of all goods and services produced by the economy.
Economist Expectations : 0.3
Huskins Expectations: Less than 0.2
Manufacturing is the biggest component of the Canadian GDP,
Ref: http://www40.statcan.ca/l01/cst01/gdps04a.htm
And Canada’s largest trading Partner happens to be the USA. We do know that the US economy is Tanking looking at the latest figures released out of the USA , hence I do not expect any increase at least in the manufacturing side of the GDP.
The other major component is Mining and Oil and GAS extraction, even with the High oil prices, there does not seem to be an increase in Mining revenues, perhaps signaling a capacity maximization.
Hence I expect The GDP not to grow as much as the Economist are predicting.
However the Canadian GDP should assume a new Importance, because the BOC would be looking at those #s closely after they did not reduce the Interest rate during the last announcement against the market expectations.
Any Contraction of the GDP should have the BOC perhaps revisiting their decision. Any expansion on the GDP (If its less than 0.7) would not change the opinions of the BOC.
Trading Suggestions:
Look at Usd/Cad.
If #> expected Sell , If # < Expected Buy.
I would be Looking at Pre-News trading (If Price is above/Below the 60 SMA on the 30 mint , 15 Mint, 5 Mint and 1 Mint Chart)
Spike Trading on Triggers of 0.2 Div with the Technicals Backing. Or on a Div of 0.4.
This report tends to make a high/low within the first 5 mints, I would be looking reverse trade the #s after the high /low is formed , expecting at least a 70% retracement.
Pre News Setup:
I will Look at the price with relation to the 60 SMA on the 1 mint , 5 mint and 15 Mint Chart, if all of them are in line , I will place a PRE-News trade in line with the Technicals, Place a Reverse Spike 60 pips away.
If news is In line with the Technicals, hold for 30 pips profit, wait for a High/Low to be formed in 5 mints , and Look to trade against the # Expecting to Hit Pre Release with the SL being 1 Pip above/below the 5 mint High/Low.
If the News is against the Technicals, wither the spike against the prenews , perhaps add to the position 60 pips away from pre-release with a Total SL of 75 pips. Expect Technicals to kick in.
If News is as expected, look at the market reaction, and exit Prenews trade with a Small profit/Loss.
Spike With Technicals: 30 Pips to 60 pips
Small Spike Against Technicals: 10- 20 Pips
Big Spike Against Technicals: 60 pips with 70-80% retracement within 15 mints.
If you want to subscribe to my analysis and trading statergy for news releases please visit : http://groups.google.ca/group/huskins
