Based on the last 12 BoC Interest Rate Decision events in Canada, we expect a 34 pip movement on USDCAD within 2 hours following the event release at 10 Jul 14:00 UTC. We expect USDCAD to trend upwards 2 hours following the event release at 10 Jul 14:00 UTC if the released value is = 1.75%
Historical events that allowed us to draw this conclusion
29 May 14:00 |
06 Mar 15:00 |
09 Jan 15:00 |
05 Dec 15:00 |
05 Sep 14:00 |
11 Jul 14:00 |
18 Apr 14:00 |
07 Mar 15:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
