Good evening comrades,
With the recent rally in the loonie resulting from multiple interest moves by the BOC, I'm looking to form a consus regarding the posoitoning of the market going into tomorrow's report. Personally, I beleive that the data release will result in a downside correction for the CAD seeing as the currency incredibly firm already. Now, putting risk on in anticipation of news reports is basically a coin flip in most instances, but seeing as the CAD is very strong (specifacally CAD/CHF) I believe that the risk/reward prospects of selling CAD/CHF going into tomorrow is attractive.
Would love to discuss this with other traders.
Cheers,
AL
With the recent rally in the loonie resulting from multiple interest moves by the BOC, I'm looking to form a consus regarding the posoitoning of the market going into tomorrow's report. Personally, I beleive that the data release will result in a downside correction for the CAD seeing as the currency incredibly firm already. Now, putting risk on in anticipation of news reports is basically a coin flip in most instances, but seeing as the CAD is very strong (specifacally CAD/CHF) I believe that the risk/reward prospects of selling CAD/CHF going into tomorrow is attractive.
Would love to discuss this with other traders.
Cheers,
AL