Trading the News | CA BOC Rate Statement | October 21 2015

Tuesday, October 20, 20150 comments

CA BOC Rate Statement@02.00pm GMT

Bank of Canada (BOC) governing council members come to a consensus on where to set the rate.Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the CAD, while a lower than expected rate is negative/bearish for the CAD.

What’s Expected :


Date
Time (GMT)
Currency
Actual
Forecast
Previous
Wed, Oct 21
02:00pm
CAD
*
0.50%
0.50%

Previous figure : 0.50%
Expected Figure : 0.50%
Deviation Trigger : ± 0.25%


The Trade Plan

Sell GBPCAD

If actual figure is or is above
0.75%

Sell CADJPY

If actual figure is or is below
0.25%
Usually if our BUY or SELL figures are hit, we could expect the market to move about 40-50 pips within the next 30-90 minutes.

Remember : For trading the news you can use the Recommended pair from above as they provide the best combination of currency pairs to trade based on better/worse news OR you can also trade the default pair: USDCAD.

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