By Darrell Martin
On Friday, November 14, 2014, at 8:30 AM, Canada will release the Manufacturing Sales report. This is a measure of the change in the overall value of sales made at the manufacturing level. The Canadian manufacturing sector covers 21 industry groups that produce goods for both industrial and consumer use. This report is an indicator of Canada’s Gross Domestic Product.
The previous report for this news release was -3.3%. The forecast for this month is 1.3%. If the reading is higher than expected, it should be regarded as positive or bullish for the CAD, while a lower than expected reading would indicate a negative or bearish position for the CAD side of your trade.
Using Nadex Spreads, it is recommended that you look for an Iron Condor implementing the USD/CAD instrument. Enter as early as 8:00 AM with an expiration of 10:00 AM. You want a minimum profit of $25. As a reminder, the Iron Condor is a strategy where you buy the lower spread and sell the upper spread. You will want to have the ceiling of the lower spread equal to the floor of the upper spread. Both of these contracts should have the same expiration time.
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Read more: http://www.benzinga.com/markets/bina…#ixzz3J1Ax2vDs