USDCAD Bananas: Watching
Updated
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
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
Trade active
bought it!Note
....and the market goes Bananza!Note
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.
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