BOC Interest Rate Decision 07/21/09

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9:00am(NY Time) CAD BOC Interest Rate
Forecast 0.25% Previous 0.25%

Definition
BOC (Bank of Canada) council members meet 8 times a year and discuss where to set their current Interest rate. Since interest rate is directly related to inflation, it is arguably THE MOST HIGH IMPACT news for currency traders who trade the CAD crosses

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Update
BOC decided to leave rates unchanged, however a strong CAD sentiment took place after the rate decision without much fundamental reason, so I went ahead and called a BUY trade at the bottom, +25 pips of profit with potential at over 100+.

About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

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