CA BOC Interest Rate today is widely expected to be a hike. With the recent rise in market sentiment and the fact crude prices have stabilized are providing some grounds for BOC to go ahead with today’s rate hike.
If we get a stronger than expected hike, such as 50 basis points, we should buy CAD immediately. If BOC decides to surprise the market by keeping rates unchanged, we should sell CAD.
Here’s what analysts expect:
10:00 am (NY Time) CA BOC Interest Rates Forecast 1.25% Previous 1.00%
The Trade Plan
We’ll plan our spike trading only if we get a 1.50% release (SELL USDCAD), or an unchanged release at 1.00% (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 | January 17, 2018 | Forex News Trade
January 14, 2018 by Leave a Comment