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: www.tradingeconomics...etail-sales-ex-autos
In contract, the USA's retail sales have been doing well for the past two months, especially last month (www.tradingeconomics...etail-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: www.bloomberg.com/ne...-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: www.tradingeconomics...etail-sales-ex-autos
In contract, the USA's retail sales have been doing well for the past two months, especially last month (www.tradingeconomics...etail-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: www.bloomberg.com/ne...-s-consumer-comeback
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bought it!
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....and the market goes Bananza!
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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.
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.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.