Canadian Retail Sales (M/M)

Fx News Spike Signals by Crazy Cat, 2018/02/22

Release Time: 08:30 New York time (EST)
Primary currency pair: USD/CAD
Forecast: 0.0
Prior: 0.2
LT1 (Lower Trigger 1): -0.7 [BUY]
UT1 (Upper Trigger 1): +0.6 [SELL]

NOTICE: This report works much faster on SNW Enterprise by about 400-550 ms. SNW Elite or Pro users should consider skipping this report. Please notice that triggers are provided for the headline number, NOT the Core. Consider multi report conflict resolution mode between the headline and the core numbers.

If Canadian Retail Sales (Less Autos) (M/M) comes at -0.7 or less ( -0.7 trigger), USD/CAD should go up by about 25 pips. If it comes out at +0.6 or higher ( +0.6 trigger), USD/CAD should go down by about 25 pips.

There are 11 estimates for Canadian Retail Sales. Median estimate is 0.0% and the average estimate is -0.07%. The highest estimate is +0.5% (one vote), and then 0.4% (one vote), then 0.3% (one estimate), 0,2% (two votes), 0.0% (one estimate), -0.1% (one vote), -0.3% (one estimate), -0.5% (one estimate), -0.6% (one vote) and then finally -0.9% (one estimate). One standard deviation is +/- 0.43%, up from 0.27 last month.

Last month it came out conflicting with the headline number, and the price action was bad. It seems like the headline number is slightly more important so this time I'm providing triggers on the headline report (not core). Nevertheless, I would recommend to set up multi-report conflict resolution mode in case there is a conflict like it was last month.

Additionally, it's hard to judge how well it performs because often it comes out with Canadian CPI reports as well. Nevertheless, it looks like this report usually performs quite well.

Please keep in mind that SNW Enterprise is MUCH faster than SNW Elite or Pro for Canadian reports. It's not recommended to trade this report with SNW Elite or SNW Pro.

To prepare yourself for this report, I recommend you to visit Forex economic calendar to browse historic charts. This would assist you in making your decision if you want to trade this report.

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