Short USD/CAD with big announcements due
Updated
With US CPI due to land in the next 6-8 hours, I'm speculating that it will come in low and the USD will weaken off the back of it.
Combining this with the Bank of Canada also announcing their next interest rate decision an hour and a half after US CPI, if they do hike rates I can see strength in the CAD.
Good pairs trade here for short USD/long CAD.
Will confirm if correct in 8 hours...
Combining this with the Bank of Canada also announcing their next interest rate decision an hour and a half after US CPI, if they do hike rates I can see strength in the CAD.
Good pairs trade here for short USD/long CAD.
Will confirm if correct in 8 hours...
Note
Short played out perfectly. US CPI came in under, BOC raises rates. Flush down straight into that order block.
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