The better data brings my USDCAD trade plan into action
A very good employment report and better GDP data has kicked my trade plan into play.
I was bid at 1.2780 but my impatience got the better of me (as usual) and I took 1.2789. The 200 H1 and 55 H4 ma’s had been marking the lows but we’ve edged through now to 1.2768.
I’m bid again at 1.2755.
Just to elaborate, while the numbers are good, they’re not going to get the BOC hiking next week. It’s doubtful it will even turn them more hawkish but that’s the bigger risk right now.