I must admit to making an amatur mistake . I missed that first few words that were right in front of my face . (The text of the speech is due at the release) . Not the actual speech at that moment and i missed out on a good move . Least i didn't bite into the sell off right before hand

What is the interpretation

IMHO uncertainty with the next rate hike . Unless he clears that up in the real speech to come

I am looking at the lost 50-70 pips that could be made in a matter of seconds.

Do not worry,I do not think you missed though, the first candle shot up so quickly,it was impossible to get in on it. I cannot see why the big jump,the speech seems quite standard to me,( data dependent ..)nothing spectacular in it to cause the jump,unless I have missed something?

"moderation in growth in second half of the year", "Won't be mechanical about rate hike", "data dependence": none seems very encouraging statements to have pushed any pair in the bullish mode.

Seems like he is uncertain of what he is trying to deliver,,, hahaha.

Your are right, one needed to use experience to grab some pips out of it.

honestly what that worked from me is buy stop i place with 340 pips clear.... but the news is not obvious as to make dollar stronger... i will say investors induced the movement to be bullish.

This move up is nothing but big boys filling in their sell order into unsuspected buyers.

Yeah, it's clear to me that this move up is one huge slow-moving bull trap. A lot of corrections on large trends often are anyway. Trends last longer than you think.

One clue to knowing if it's a fake move or not is to look at whether the fundamentals have materially changed. In this case, nothing has changed between the FED and BoC in terms of delineating significant fundamental changes in their underlying economies which will change their outlook on interest rate adjustments.

lol .....all the cad bulls crying here

The last two rate hikes was premature given the overall state of the Canadian economic outlook ................hence causing a major blow to the housing market which was the only real fuel in the economy. Now whats next??? .Well I bought Cad @1.2175 ..... seeing 1.30 on the horizon thanks MR pee brains Justin Trudeau and BILL M and that poloz dude.

btw this is from fundamental economic analysis and not technical analysis on a chart......

fxx, did you read Poloz's speech for why he hiked twice in recent months? I guess you didn't.

Poloz did not say he won't hike again. He said it won't be mechanical. Many interpret that to be dovish but the fact remains the momentum to the downside (at least on the weekly and monthly charts) is still very strong. Poloz is still open to hiking again even if the inflation readings remain subdued. He's looking at other factors such as wage growth (which has been going up), business investment (up too), oil prices (just broke a significant resistance level), etc.

There are too many possible variables that will impact the US dollar in a negative way. Tax reform unlikely, heathcare crisis from ballooning medical costs, economic repercussions from the two hurricanes (not including Puerto Rico) has yet to materialize in economic readings, continuing military stand-off with North Korea, inflation readings stubbornly low despite full employment number, and not to mention Trump's unstoppable unfiltered mouth, etc.

And no, the fact FED is going to start paring its balance sheet is not going to support the dollar. It's already priced in and the FED members keep reiterating they're going to do it so gradually while behind the scenes so it won't have a material effect on the gyrations of the US dollar versus other currencies.

The big boys are going to keep pushing the the pair until it gets to 1.2500 thereabouts and then rain hell on all those buy positions.

More imports vs less export, made greater trad balance that could be good sign if the other data approve it. Manufacturing PMI approved it but IVEY didn't. It means manufacturing purchases increased but service part...

RMPI increased but IPPI decreased. It shows raw material price increased but sell price didn't that approve slump market. As you see manufacturing sales approve it too.

Foreign purchase was significant but it couldn't make sensitive demand to move CPI. As you see, retail sales and wholesales increased but core retail sales decreased that approve our idea.

Labor market was better than before.

Building construction was not impressive.

Totally, we can say Canada pass through slump conditions. Therefore, despite of increasing overnight rate, it seems there is no sensitive situation to make it logic.