Boko Maru
Sergeant
- Messages
- 250
can someone plz explain what happened? at 9am this news realease came on, USD/CAD went up 30+ pips....why? why buy the USD when the release was good for CAD.
but at 2hours later it sunk to 120pips.....
Release came out exactly as expected. The volatility was due to the accompanying statement from the Bank of Canada. As traders try to decipher the statement and decide whether it's bullish or bearish, price gyrates wildly. Also, banks use events like this as an opportunity to run stops in both directions, hence the up and down price action...