Forex News Trading For CA BOC Interest Rate 04/17/12

cad carney Forex News Trading For CA BOC Interest Rate 04/17/12The Bank of Canada (BOC) will announce their rate decision today at 9:00am sharp.

Here´s what analysts expect:
9:00am (NY Time) CA BOC Rate Decision Forecast 1.00% Previous 1.00%
ACTION: USD/CAD BUY 0.75% SELL 1.25%

The Trade Plan
Most analyst agree that the BOC will hold rates at 1.00%. I´ll be trading this release with a 0.25% deviation using Spike Trading method. In the event of a surprise hike it´s almost guaranteed that we´ll see strong market movement immediately after the release.

3rd Party Advertisement

For more information on my Spike trading method, please read:
http://www.currencynewstrading.com/how-to-get-started-with-news-trading/

The Market
BOC is expected to keep rates unchanged during this meeting and as a matter of fact, it is an unanimous prediction by all analysts once again. Market consensus has changed sharply in the past few weeks towards risk aversion, and that would mean BOC is likely to tolerate higher inflationary pressure in order to balance external risks from China, U.S., and Europen…

Additional Thoughts
It is extremely likely for BOC to keep rates unchanged. Market may react to the accompanied statement, which will be crucial for CAD if BOC signals a rate hike for the next meeting.

Pre-News Considerations
No Pre-News trading…

Thanks,

henry sig Forex News Trading For CA BOC Interest Rate 04/17/12

Avatar of Henry Liu About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

You can find more information about me on my Google Profile.

Speak Your Mind

Logo

Welcome to Currency News Trading

Login or Signup to join our fast growing Forex community and find out why Fundamental Analysis is the key to consistent trading...


Sign Up Now

Becoming a member is easy. Just fill in the fields on the registration page and we'll get a new account set up for you in less than 30 seconds...

Forgot Your Password?

A new password will be e-mailed to you.

Member Login