2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
Will the BOC Surprise Markets with Monetary Policy Report?
What will happen?
The BOC will report its Monetary Policy on Wednesday, April 13, at 17:00 MT (GMT+3).
The statement provides valuable insight into the bank's view of economic conditions and inflation which are the key factors influencing monetary policy and interest rate decisions.
Last time, the BOC increased the key rate to 0.5%. As a result, USDCAD lost 600 points within 14 hours.
How to trade on the BOC Monetary Policy report?
- If the report is more hawkish than forecasted, the CAD will likely strengthen against other currencies.
- If the report is more dovish than forecasted, the CAD will likely weaken against other currencies.
Instruments to trade: CADJPY, USDCAD, CADCHF.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.