2 Highly Important Canadian Reports Are Being Released On January 21
At 10:00 a.m. ET on Wednesday, January 21, 2015, The Bank of Canada’s Interest Rate Decision along with its Monetary Policy Report will be released. Both of these reports are of high importance.
The Interest Rate Decision is watched closely by traders because the short-term interest rates are the primary factor in the valuation of currency. The decision is reached by the governing council members of the Bank of Canada (BoC), and they determine where to set the rate.
Historically, for the last 18 months, the rate has remained unchanged at 1 percent. It is forecasted to continue unchanged. This report is released every other month.
If it happens to come in higher than expected, it would be seen as positive or bullish for the CAD side of a trade. If lower, it would be regarded as negative.
The Bank of Canada’s Monetary Policy Report is released quarterly and gives insight into the economic conditions that influenced the governing council members' decision as to where to set the interest rate.
At 11:15 a.m. ET, The Bank of Canada’s Governor Stephen Poloz will speak.
To check out other upcoming news events that you should be aware of when trading, go to www.apexinvesting.com. Apex Investing Institute offers free education, and free access to the Nadex Binary and Spread Scanner Analyzers. Member traders are invited to trade in the chat rooms, take advantage of trade signal services, use key indicators and access the Apex Forum. The forum content is updated daily and includes over 10,000 members. In a supportive learning community of seasoned as well as up and coming traders, traders of all levels learn how to trade Nadex binaries and spreads in depth, as well as futures, forex, stock and options, and gain an edge for successful trading overall.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.