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

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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