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  • Bank of Canada increases overnight rate target to 1 per cent

    From bankofcanada.ca

    The Bank of Canada is raising its target for the overnight rate to 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Recent economic data have been stronger than expected, supporting the Bank’s view that growth in Canada is becoming more broadly-based and self-sustaining. Consumer spending remains robust, underpinned by continued solid employment and income growth. There has also been more widespread strength in business investment and in exports. Meanwhile, the housing sector appears to be cooling in some markets in response to recent changes in tax and housing ... (full story)

Added at 10:08am

  • Bank of Canada hikes rates as economy roars

    From beta.theglobeandmail.com

    The Bank of Canada has hiked its key interest rate for the second time in less than two months amid surprisingly resurgent growth across the country. The central bank raised its overnight lending rate by a quarter of a per cent to 1 per cent Wednesday, surprising many analysts who had not expected another rate increase until at least October. "Recent economic data have been stronger than expected, supporting the bank's view that growth in Canada is becoming more broadly based and self-sustaining," the bank said in a statement. The bank also cited "robust" consumer spending, "solid" job and income growth, "cooling" ... (full story)

wow, I've never made 200 pips so fast lol!
Quoting chrizianofx
wow, i've never made 200 pips so fast lol!

oooooooooooooooo canadaaaaaa!
I hope nobody was in long
Lmao Wow.. nice move
never go on the market just before an annonce.... or go if you an insider...
where is it go?anybody know?
CAD is now settle for the strength
Well i was about to go long before the move to try my luck but decided against it in the last minute, i've cheated destiny now i fear for my life ;0
Yeeesssssss !! I sold usdcad 2 minutes before the news, 250 pips ! Cadjpy long, 120 pips !
Nice day ! Good luck in pips guys !
We need such freebies once in a while.
I made 88p in 2 seconds lol
Chase your dreams, because nobody will do it for you.
Quoting chrizianoFX
wow, I've never made 200 pips so fast lol!
you got me by 6 pips i made 194
same thing happen for tomorrow?
anybody have a target, i'm in loss now;is it possible to each to 1.2100?
Quoting Mccc
same thing happen for tomorrow?
Do you mean the employment change and unemployment rate release ? . Maybe never know IMHO which doesn't count for much: I would say the USD/CAD pair will pour on the selling on a positive release of both.

i meant for friday morning that is
Quoting Adeb1isi
Yeeesssssss !! I sold usdcad 2 minutes before the news, 250 pips ! Cadjpy long, 120 pips ! Nice day ! Good luck in pips guys !
I was gunna do that, but I was chicken... :-(
Surprise!
Invest in alarm clocks
I sold the USD/CAD but unf. broker accept my order on 1.2191!!! I'm in loss now, what can I do?Anybody could guide and help me for now?
Quoting Mccc
same thing happen for tomorrow?
Maybe but wont be a big 200pip drop
Quoting omidyavari
I sold the USD/CAD but unf. broker accept my order on 1.2191!!! I'm in loss now, what can I do?Anybody could guide and help me for now?
it's not brokers fault,it's your fault.
The price you sold there was no market made,bid/aks. The price was moving too fast and liquidity providers pulled out.
It's part of the game,either deal with it & learn to place better trades or leave.
Is it possible to return the price to 1.2140?
Quoting omidyavari
Is it possible to return the price to 1.2140?
It's possible, but you should really try and generate your own ideas instead of relying on the opinion of someone you've never met before.
I had a EURCAD long running and a AUDCAD short pending at the announcement. Lost 1.5% between the two.

You will all be pleased to hear that the broker managed to close the short at exactly the T/P but could not manage to open it at all until the very end of its run. The long EURCAD was let run for another full 100 pips past its S/L

I don't know timos, I don't think the brokers can have it both ways!
Quoting omidyavari
Is it possible to return the price to 1.2140?
I think in long term is possible.
if you made pips on that move, lucky you. If you lost pips on that trade, poor you. I really recommend NOT trading news and HOPING you get lucky...that is NOT trading, that is gambling. There was enough reason to go short, no reason to go long imho. Personally I just trade bigger lots on smaller moves. Trade the reaction, not the action and stay out when the big news is coming.
Quoting armaros
{quote} I think in long term is possible.
1st tick after the drop is at 1.23172 on my broker through 1 tick tick charts...aprox. 100 pips after the drop.
Some brokers will use this at their advantage...some will play fair....
Compare brokers. Is best thing you can do
The recent shot in the arm for the canadian economy came from the housing market which reported a steep declined this morning.....yet they raised rates. Is this a smart move??? We will find out when the next quarter .
Don't forget Justin Trudeau is a substitute drama teacher and not an economist .
Quoting Antigonus
I had a EURCAD long running and a AUDCAD short pending at the announcement. Lost 1.5% between the two. You will all be pleased to hear that the broker managed to close the short at exactly the T/P but could not manage to open it at all until the very end of its run. The long EURCAD was let run for another full 100 pips past its S/L I don't know timos, I don't think the brokers can have it both ways!
I see that AUDCAD fell 210 pips in the first 1 minute, while EURCAD fell 320 pips in the first 1 minute. So betting EURCAD long and AUDCAD short was a loser. Maybe better was to have the same CAD pair run both long and short. Although the NFA's 2009 FIFO rule for individual traders fouls that up for Americans only.
Quoting omidyavari
I sold the USD/CAD but unf. broker accept my order on 1.2191!!! I'm in loss now, what can I do?Anybody could guide and help me for now?
Whats wrong with everybody trying to make quick money on the news. I don't really think pro traders do such things.
Speaking of profi traders. I found a nice set of interviews here: https://www.youtube.com/watch?v=0Zls8M2izTo
If you have a system and it works stick to it, don't trade news if you aren't prepared.
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