Yesterday morning we were watching several releases, including the UK Industrial Production and Canadian and US Trade Balance reports. For the UK Industrial Production release we were looking to buy the GBPUSD if the number came out at least 0.5% better than expected. The actual number came out only 0.3% better than expected so it did not meet our safe trigger.
For the Canadian and US Trade Balance reports we suggested focusing on the Canadian Trade Balance and we were looking to buy the EURCAD if the number came out at least $1.5 Billion worse than expected. The actual number only came out $0.1 Billion worse, so it did not meet our safe trigger. For the US Trade Balance our safe trigger was set at $5 Billion. The number came out at $4.6 Billion worse than expected so it just missed our trigger on this release.
Our next live trade opportunity comes tomorrow when the US Trade Balance report is released at 8:30 am. This trade typically provides 30 to 50 pips of movement if it meets our safe triggers.
