Indicators prove to be powerful

The Reason:

There were many important economic indicators that were released for the Euro, Cad, and USD.

The EUR/JPY moved down over 120 pips with constant terrible EURO economic data being released. The German current account and French trade balance came to be worse than expected. In addition, the JPY eco watchers survey, survey of the economy, came to be below 50.

The USD/CAD took an early jump with less than favorable unemployment numbers being released. However, with two powerful healthy economic indicators, housing starts and trade balance, being released with the next hour resulted in the USD/CAD taking a big dive. The positive USD Trade balance data was overshadowed by the overwhelming positive CAD data.

The table below lists the important indicators that were released: 

In terms of trading, the CAD/JPY made leaps with the release of this data. Traders enjoyed a modest 100 pip move up for this pair.  

The View:

The Euro Indicators:

The CAD Data:

by Sumant Yerramilly