The ECB brings an opportunity to the EUR traders
The European central bank will conduct its press conference on January 24 at 15:30 MT time.
Will the BOC surprise with a rate hike?
The Bank of Canada will release the interest rate on October 24 at 17:00 MT time.
The market anticipates a rate hike. It’s not a secret that an increase of the interest rate always supports the currency. Last time the Bank of Canada has raised the interest rate in July 2018. It was quite unexpectedly for the market as the environment of uncertainties around the trade war made the central banks cautious.
Up to now, the Canadian inflation level is well above the target that makes traders believe in the rate hike.
• In case of the rate hike, the CAD will rise.
• In case of the neutral/negative rate, the CAD will fall.
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