Canadian GDP (M/M)

Fx News Spike Signals by Crazy Cat, 2018/12/21

Release Time: 08:30 New York time (EST)
Primary currency pair: EUR/CAD, USD/CAD
Forecast: 0.2
Prior: -0.1
LT1 (Lower Trigger 1): -0.2 [BUY]
UT1 (Upper Trigger 1): +0.2 [SELL]
Safety: 1

NOTICE: Typically Canadian reports are released much earlier on SNW Enterprise than on SNW Elite or Pro. The time difference can be somewhere between 300 ms to over 1 sec (1000 ms). For that reason, I don't recommend trading this report if you are not SNW Enterprise subscriber.

If it comes at 0.0 or less ( -0.2 trigger), EUR/CAD should go up by about 40 pips. If it comes out at 0.4 or better ( +0.2 trigger), EUR/CAD should go down by about 40 pips.

Based on 17 estimates, the median estimate is 0.2%, and the average estimate is 0.21%. The highest estimate is 0.4% (one estimate), then 0.3% (three votes), 0.2% (10 estimates) and then the lowest estimate is 0.1% (three estimates). One standard deviation is +/- 0.08%, same as last month.

This month we will also have Canadian Retail Sales coming out at the same time. Obviously, Canadian GDP is way more important than retail sales, and I don't actually recommend setting up triggers on Canadian Retail Sales alone. Of course, if they are conflicting, the price might be muted but still, Canadian GDP should be dominant here.

Additionally, we will also have US GDP coming out nearly at the same time. It's not going to be exactly at the same time since the data come from two different countries. You can trade both GDP reports independently, and for that reason, you may also consider EUR/CAD instead of USD/CAD for the Canadian release.

For the best results, please visit our Forex economic calendar with historic charts to check how it performed in the past.

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