Bank of Canada increases overnight rate target to 1 ¾ per cent | Forex Factory

  • Bank of Canada increases overnight rate target to 1 ¾ per cent

    From bankofcanada.ca

    The Bank of Canada today increased its target for the overnight rate to 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. The global economic outlook remains solid. The US economy is especially robust and is expected to moderate over the projection horizon, as forecast in the Bank’s July Monetary Policy Report (MPR). The new US-Mexico-Canada Agreement (USMCA) will reduce trade policy uncertainty in North America, which has been an important curb on business confidence and investment. However, trade conflict, particularly between the United States and China, is ... (full story)

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9jatrader
Oct 24, 2018 9:43am
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Quoting XuMar
Actually market not expected they will increase rate after the CPI released -0.4% last week LOL

There are other factors that informed the hike. CPI is only one thing
Reply
tomiko
Oct 24, 2018 9:07am
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let them buy all they want..
wait a lil bit to short again hmmm
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tomiko
Oct 24, 2018 9:42am
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Quoting DonaldFX
Looks like the lower the price, the more the volumes. Doesn't look like it is going to reverse any time soon in my opinion. {image}
big volume means either way, lots of seller yet lots of buyer.
the question is, which side is greed enough to push farther..
Reply
XuMar
Oct 24, 2018 9:26am
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Actually market not expected they will increase rate after the CPI released -0.4% last week LOL
Reply
Not-KPMG
Oct 24, 2018 9:53am
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Quoting tomiko
{quote} big volume means either way, lots of seller yet lots of buyer. the question is, which side is greed enough to push farther..
It's vague.
If i traded I'd fade it (up) then sell 3060
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Not-KPMG
Oct 24, 2018 4:34pm
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Quoting aa4fx
{quote} Good numbers you put!
After the first retrace was consumed, I was not expecting a higher number than the retrace ... I had your .60 in mind and now selling the .51, it make it up to .56.
I am looking to see an insane drop, why not parity in here too?!?

BUT, the real dilema is: will your .60 happen?
Oh yes.

Sorry man. I was purely talking intraday. So buy 1.3000 sell 1.3060 buy 1.2990 where i did expect double bottom would be. Stop hunt etc.

Now comes market meltdown

But overall the way is and should be up. U/Cad is strong and Canadian liars don't mean a thing.

If you successfully sold 3060 I'd recommend reversing.... with 1.32 in near days/weeks.

GL.

I don't trade this, no time, only sometime.
Reply
Not-KPMG
Nov 9, 2018 10:39pm
Permalink
Quoting aa4fx
{quote} Good numbers you put! After the first retrace was consumed, I was not expecting a higher number than the retrace ... I had your .60 in mind and now selling the .51, it make it up to .56. I am looking to see an insane drop, why not parity in here too?!? BUT, the real dilema is: will your .60 happen?
Think 1.32 target was achieved, smashed and very fun

Canada lift rates!!! Hilarious
Reply
jegas
Oct 24, 2018 9:14am
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Quoting DonaldFX
Looks like the lower the price, the more the volumes. Doesn't look like it is going to reverse any time soon in my opinion. {image}

No way,All Giants in only one direction ie south.
Reply
Not-KPMG
Oct 25, 2018 12:18pm
Permalink
Quoting Not-KPMG
{quote} Oh yes. Sorry man. I was purely talking intraday. So buy 1.3000 sell 1.3060 buy 1.2990 where i did expect double bottom would be. Stop hunt etc. Now comes market meltdown But overall the way is and should be up. U/Cad is strong and Canadian liars don't mean a thing. If you successfully sold 3060 I'd recommend reversing.... with 1.32 in near days/weeks. GL. I don't trade this, no time, only sometime.
Not bad a plan to trade these liars
🍻

For future reference!!!!
Chain in NEWS.
Reply
Not-KPMG
Nov 9, 2018 10:34pm
Permalink
Quoting tomiko
{quote} i'm considering to wait 1.5 hrs until H4 candle close. if couldn't break 2 previous demand then i'll let loose to 3160 and next target 3240. cheers mate
Nice, nice.
Hope you kept longs
Reply
COGSx86
Oct 24, 2018 10:00am
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Quoting XuMar
Actually market not expected they will increase rate after the CPI released -0.4% last week LOL
Why ? Centrals banks dont care about CPI. CPI is delayed. They use government bonds. Check out Canadian bond rates.
Reply
aa4fx
Oct 24, 2018 3:10pm
Permalink
Quoting Not-KPMG
{quote} It's vague. If i traded I'd fade it (up) then sell 3060
Good numbers you put!

After the first retrace was consumed, I was not expecting a higher number than the retrace ... I had your .60 in mind and now selling the .51, it make it up to .56.

I am looking to see an insane drop, why not parity in here too?!? BUT, the real dilema is: will your .60 happen?
Reply
tomiko
Oct 24, 2018 10:33am
Permalink
Quoting Not-KPMG
{quote} It's vague. If i traded I'd fade it (up) then sell 3060
i'm considering to wait 1.5 hrs until H4 candle close.
if couldn't break 2 previous demand then i'll let loose to 3160 and next target 3240.
cheers mate
Reply
dangphuoctu
Oct 24, 2018 9:39am
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I don't think it can reverse soon.
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tomiko
Oct 25, 2018 9:16am
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and 24 hrs later managed to make a sweet home run..
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ashimkhan
Oct 24, 2018 9:07am
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Love u can
1 monitor 17 $ profit
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DonaldFX
Oct 24, 2018 9:10am
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Looks like the lower the price, the more the volumes. Doesn't look like it is going to reverse any time soon in my opinion.
Attached Image (click to enlarge)
Click to Enlarge Name: macro cad.png Size: 54 KB
Reply
Trader#9811
Oct 24, 2018 9:43am
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I dont think any reversal is coming. Just wait and watch for press conference
Reply
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