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Rocketman
Dec 5, 2018 11:28 AM

USDCAD: Central Bank Speculating Short

USD/CADOANDA

Description

CAD: I am speculating that CAD's CB will be hawkish whether or not hey raise rates today (December 5, 2018).

Given the recent change of stance in US Fed's Powell from a hawk to a dove, and given the trade idea that CAD's CB might be hawkish in tone today even though they may keep rates the same, I think this makes a good short set-up.
USDCAD is also overbought technically. We will see. I am ready to switch at the drop of the hat if I am wrong.

Trade closed: stop reached

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