Open trading account 
There is some upcoming event risk for the Loonie in the New York Session.
We have the Trade Balance, as well as the overnight rate and rate statement.
Although some may believe that the Canadian central bank may take a dovish approach, inline with some of the other countries that continue to look to cut rates, I don't believe that is the case for Canada.
For starters, the central bank is not focused on verbal intervention, and you may have noticed it is one of the central banks that does not utilize it to manipulate it's currency.
Further, I believe economic stability will be gained through a focus on export among other things. A weaker loonie will benefit exports, however the central bank is not encouraging that stance.
An important note is the Canadian housing market. We have seen some major turmoil in the US and other countries as well when it comes to overvalued real estate, and a bubble. Canada has been criticized for having overvalued real estate, but it is far from a bubble. The central bank has put in efforts (outside it's jurisdiction even), to control consumer debt through other means then merely adjusting interest rates. It has focused on application processes and amortization just to name a few, to have an increased control over process while at the same time preventing an adverse effect on currency and real estate values.
I've taken a GBP/CAD short in the contest account as well as my personal account ahead of event risk.
We have the Trade Balance, as well as the overnight rate and rate statement.
Although some may believe that the Canadian central bank may take a dovish approach, inline with some of the other countries that continue to look to cut rates, I don't believe that is the case for Canada.
For starters, the central bank is not focused on verbal intervention, and you may have noticed it is one of the central banks that does not utilize it to manipulate it's currency.
Further, I believe economic stability will be gained through a focus on export among other things. A weaker loonie will benefit exports, however the central bank is not encouraging that stance.
An important note is the Canadian housing market. We have seen some major turmoil in the US and other countries as well when it comes to overvalued real estate, and a bubble. Canada has been criticized for having overvalued real estate, but it is far from a bubble. The central bank has put in efforts (outside it's jurisdiction even), to control consumer debt through other means then merely adjusting interest rates. It has focused on application processes and amortization just to name a few, to have an increased control over process while at the same time preventing an adverse effect on currency and real estate values.
I've taken a GBP/CAD short in the contest account as well as my personal account ahead of event risk.
