CA BOC Interest Rate today is widely expected to be a hold. There are no real expectations for a surprise rate action, but in the event of one, we should jump in immediately as the market will remain in a state of shock. However, if there is no surprise, then there is no reason to be in the market at release time.
Here’s what analysts expect:
10:00 am (NY Time) CA BOC Interest Rates Forecast 1.00% Previous 1.00%
The Trade Plan
We’ll plan our spike trading only if we get a 1.00% release (SELL USDCAD), or an unchanged release at 0.50% (BUY USDCAD). Aside from spike trading, I’d just sit on the sidelines and wait for the Press Conference while going over the BOC Statement…
For more information on my Spike trading method, please read: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend using the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: USDCAD.
CA BOC Interest Rates Decision | December 6, 2017 | Forex News Trade
December 4, 2017 by Leave a Comment