13 April

1. Friday, April 13th (8:30 am New York Time) USA

We have US trade balance and PPI coming out at the same time. This is going to be a tough one, because of possibilities of a conflict. In my opinion, the most important number will be PPI x Food and Energy, which marginally reflects the inflationary pressures in the United States, and it's expected to come out at around 0.2%. If it comes out at 1.2% or higher, GBP/USD may possibly go down by 30 pips or more in the first hour of the report. If the number comes out at -0.8% or more negative, GBP/USD may possibly go up by 50 pips or higher in the first hour of the report. We have some important price levels on GBP/USD, so the move will largely depend on how those levels hold up.

2. Friday, April 13th (8:30 am New York Time) CANADA

Then we have Canadian trade balance for the month of February coming out at the same time. That will be my primary focus at 8:30 am New York Time. It's expected that Canada exported around 40.9 billion worth of stuff in February, similar to January, which was 40.8 billion. And the trade balance gap is expected to become a bit bigger, because it's expected that Canada imported around 34.8 billion worth of stuff, as opposed to 34.4 billion that was imported in January. So the total trade balance is expected to be at around 6 billion or so. The export component is what's really crucial here, though most news services don't even release it, they just release the actual trade balance. If the trade balance comes out at 7.9 billion or more, it would be the most positive trade balance out of Canada in this decade, and EUR/CAD may possibly go down by 50 pips or more in the first hour of the report. If the trade balance comes out at 4.5 billion or less, it would be way below expectations, and the lowest reading since October of 2006, so EUR/CAD may possibly go up by 50 pips or more in the first hour of the report. Obviously you can trade with smaller deviations, just count for a smaller move