We didn’t really have much happening last friday, and the last tradeable opportunity that we were watching was the CAD Trade balance on last Thursday. The market hardly reacted for this indicator even though the indicators deviation did hit our expected margins. It came out at 4.9, about 0.7 higher than our expected margin at 4.2 for the CAD to strengthen, and true enough the EUR/CAD pair dropped about 20 odd pips. It hardly even inched with the USD/CAD pair, which we chose to avoid due to multiple reports being released at the same time on the USD.
I didn’t make much money there, took about 7 pips as i did enter the trade but i pulled out quickly as the move was dovish.
Next up for Apr 14th, Monday, we have a total of 6 reports coming out. Rather surprising for a monday but most of the news i feel are not tradeable or are of impact that cannot feed our risk apetite. As such, i will only pick 1 news indicator which is the NZD Consumer Price Index (CPI) q/q report. The Consumer Price Index (CPI) measures the rate of inflation (i.e., the rate of price changes) experienced by consumers when purchasing goods and services.
For this report, the timing will be at 1845 hrs, NY Time, 0645 hrs, SGT time, 15th Apr. For this report, we are expecting a number at 0.9%.If the deviation is more than 0.3 on either side, i will advise you to enter the trade. If the number comes out at 1.2% or higher, it will be strengthening the Kiwi and you should go long on NZD/USD. On the flipside, if it comes out at 0.6% or lower, you should go short on the NZD/USD.
Good luck for your trades, talk to you again tomorrow.
Regards,
Seeni
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