Hugely Important Trading Plans | BOC Rate Decision

Oct 23, 2024

Ever since the BOC has undertaken a quicker easing cycle (and signalled more of it) we have seen a lot of CAD shorts come into play.

Removing investment from CAD due to lower ROI is a direct cause of easing, and easing quickly.

Largely expected that another cut comes today at a 50 BPS consensus. It remains yet to be seen whether this cycle is too fast.

The FED has also undertaken a reasonable cutting pace, but latest data and rhetoric around it suggests a slower, more careful easing (hence the late rises in USD value, see DXY).

May be slight room to go higher, although USDCAD sits at key rejection areas, last hits going further into them.

Would not be surprised if this continues based on recent price action to the upside.

Awaiting rejection at these key levels before further entry short.

Oct 23, 2024

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Rate change as expected. Now looking forward to presser.

Oct 23, 2024

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No change in comments/bias, only small drop on CAD pairs. Awaiting further reaction and holding shorts below.

Oct 24, 2024

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Market Slowly losing speed. Re-shorts on pushes back up.

Oct 24, 2024

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Lock in gains on any re-shorts.

Oct 24, 2024

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Price pushing back towards highs, holding off shorts until ultimate high.

Oct 24, 2024

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Re-shorted into above wick push.

Oct 24, 2024

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Large 1G Sell giving way to some short bias.

Oct 27, 2024

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Still looking short into Monday open.

Looking for USD weakness / CAD strength on any data.

Pair has ranged significantly for a long time. Would expect continuation unless massive sentiment shift.

Oct 31, 2024

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