CA BOC Interest Rate
An unexpected change in the interest rate always represents a huge volatility but the rate does not change frequently. Please note that the volatility is more frequently caused by the minutes of the Bank’s meeting, which are of a textual nature and are not applicable to the auto-click.
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How to trade CA BOC Interest Rate
If the data is above the forecast, USDCAD falls and vice versa.
The interest rate varies quite rarely, the market reacts more frequently to the text of the minutes of the meeting of the Bank of Canada. But if the change in the rate occurred contrary to the market expectations, then expect huge movements.
Text protocols, which are not programmed for the auto-click algorithmic trading, are used by market participants to correct their expectations. Tighter claims may mean a quick monetary policy tightening and reduction in incentives, which in turn will be supported by CAD (that is, will weaken the USDCAD pair).