USD/CAD Forecast: 25/05/2016
Bank of Canada Monetary Policy Statement and Key Interest Rate Decision
On May 25, 2016, a Bank of Canada key interest rate decision and monetary policy statement are expected to be released and right after that a BOC press conference is to be held.
Even if the key interest rate remains unchanged, events such as the above may result in significant movements of the currency pairs involving the Canadian dollar.
The aggressive or optimistic tone of the statement might lead to the Canadian dollar rising.
In this case, a sell position on USD/CAD, opened upon the release of the statement, can make a profit of $1,700 in a short period of time, with trading one lot.
Bank of Canada Statement forecast: 150 pips