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  • Bank of Canada increases overnight rate target to 1 1/4 per cent

    From bankofcanada.ca

    The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity. However, uncertainty surrounding the future of the North American Free Trade Agreement (NAFTA) is clouding the economic outlook. The global economy continues to strengthen, with growth expected to average 3 1/2 per cent over the projection horizon. Growth in advanced economies is projected to be stronger than in the Bank’s October ... (full story)

Added at 10:04am

  • Bank of Canada Raises Rates But Cautions Stimulus Still Needed

    From bloomberg.com

    The Bank of Canada pushed forward with another quarter-point interest rate increase and said more hikes are likely coming, even as it cautioned it isn't in any rush to return rates to more normal levels. Policy makers led by Governor Stephen Poloz increased the benchmark overnight rate to 1.25 percent, the highest since the global recession and their third hike since July. The move is a nod to a red-hot economy running up against capacity with a jobless rate at the lowest in more than four decades. At the same time, central bank officials repeated their dovish language about moving ahead cautiously and warned they ... (full story)

yay! now lets get the mf union jobs out to do some shitty roadwork and pretend economy is freaking booming to the moon!
for god's sake sell USD/CAD. i'M bleeding
Invest in alarm clocks
does it seem like the economy is boomin? its next door to usa. has similar diplomatic few same continent.. surprise surprise....
USDCAD popped up 80 Pips 10 seconds Before 10 AM, before going back down Who did that?
@micc23 market maker
what???....spike... ding dong ding dong.... what the @$%%$#.... very lucky i'm buy and sell. But why this time reverse.
Quoting Micc23
USDCAD popped up 80 Pips 10 seconds Before 10 AM, before going back down Who did that?

Don't worry.after the mkt makers move,mkt comes to normal in the meaningful way.
Market had already expected will raise it, it is not a "surprised" again
Quoting Tony112
for god's sake sell USD/CAD. i'M bleeding
This was fully untradeable. Tony, didn't your stop loss work? If not, I am not suprised at all. This big, sudden moves were really suprising! All the big dogs jumped onto the bone!
Spike up surprised me.but caught it on the way down. problem I did not close soon enough. But made some pips
Quoting Baldi
{quote} This was fully untradeable. Tony, didn't your stop loss work? If not, I am not suprised at all. This big, sudden moves were really suprising! All the big dogs jumped onto the bone!
they sold out retail investors on both sides in 10 seconds...lol
Quoting Micc23
USDCAD popped up 80 Pips 10 seconds Before 10 AM, before going back down Who did that?
Micc23, it's not the market makers. Many investors - big and small - made lots of straddle orders (stop orders) above the price and a bigger investors who moved the price a little up activated this "stop ladder" - so price ran up to the max and then falling back lacking continuous buying power at those levels. And then... you know already...
Shorting now usd cad
Invest in alarm clocks
Quoting Baldi
{quote} Micc23, it's not the market makers. Many investors - big and small - made lots of straddle orders (stop orders) above the price and a bigger investors who moved the price a little up activated this "stop ladder" - so price ran up to the max and then falling back lacking continuous buying power at those levels. And then... you know already...

after the mkt noise Calm down,CAD buying start ?
I think the real move will start after BOC Conference.
Jegas, I cannot tell you the direction.

If I could, I would also trade it. I was lucky, I did not traded this news (I watched closely and prepared for it but decided: no trade). I have seen this so many times that I try not to trade the interest rate decisions (so beside luck I also used my experience). Little bit similar happened at the previous BoE interterest rate decision as well. Hike, but the price went down. So now I dare not to say any sentiment.
Right now price is still hovering around the middle of the range. doesn't seem to want to go up or down
I think for now the show is over. Maybe something happens at the BoC press conference, who knows?
Quoting Micc23
Right now price is still hovering around the middle of the range. doesn't seem to want to go up or down
thanks for stating the obvious, now how about the weather?
Quoting Micc23
Right now price is still hovering around the middle of the range. doesn't seem to want to go up or down

Exactly ,mkt wait for the BOC press confrence ,then take the direction from the middle range.
Quoting Tony112
Shorting now usd cad
Interest rates have the opposite affect, money ends up leaving, that country.

Source:

https://www.forexfactory.com/showthread.php?t=570673

In the Short term (1-2 days) CAD might get stronger depending on how the market reacts, but over the next few weeks the CAD will continue to lose value.

Interest rate increases cause the following:

Sell off in stocks - higher cost to purchase and hold
Real Estate price drop - will take a hit, sortal
Banks will not be lending more money out.
Foreign capitol is leaving the country.

The underlying reason rates are going up in Canada is government bond prices have been going up. This is the result of foreign capital leaving the country.
Learn, a forex trader must, unlearn and relearn he will.
Quoting Baldi
{quote} This was fully untradeable. Tony, didn't your stop loss work? If not, I am not suprised at all. This big, sudden moves were really suprising! All the big dogs jumped onto the bone!

SL worked! 20 pips Oanda is gold!
Invest in alarm clocks
  •  Guest
  • | IP XXX.XX.189.234
what a spiked! if I did a 40pips tp on my trade i got the diamonds, rather i set it 50pips. then go down and up. LOL, i lost but learned expirience.
wow great move for stopp hunting, killed both sides sl's
  •  Guest
  • | IP XXX.XXX.197.18
EVERY Canadian bank raised their interest rates earlier in the week. Advance notice was 100% given to the "old boys" network. The bank rate increase were all announced in the news media; so if you think this is news or a surprise then you really need to re-evaluate your trading methodology.
What was the "Surprise" Guest, was the violent reaction to news that came out as expected. This should have produced little movement. But I saw that people jumped in 10 seconds before 10:00 early to speculate on Selling CAD, before the price reversed
All fake news!!
Sell CAD
i have seen this ding dong so many times, the best scenario is to wait for 2 days and trade. A good lesson for trigger happy guys... lol
Sorry CAD has already moved down for this time of year.

Now its gonna be taken further north by the mighty Greenback
Quoting jeffwong
@micc23 market maker
You mean this?
https://i.snag.gy/6sdClY.jpg

It hits my TP, and I got mass spam notification from my iPad
Odd numbers are odd.
Oanda 2 All Time Return: 79.4%
Quoting Tony112
for god's sake sell USD/CAD. i'M bleeding
Isnt by definition of your system supposed to keep you away from "bleeding"?
Quoting sidhujag
{quote} Isnt by definition of your system supposed to keep you away from "bleeding"?
yea the stop loss worked. of course, I re-entered
Invest in alarm clocks
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  •  Guest
  • | IP X.XXX.138.35
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