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USD/CAD Big Trade 10.20.2015 +73
10/21/15 BK -- Close USD/CAD trade pre-BoC here at 1.3038 for +73. You can ride it through but we are cutting risk ahead of this key event and will revisit later
10/20/15 update -- USD/CAD Big Trade 10.20.2015 -- First Entry TRIGGERED
BK Big Trade -- 2 New Orders
Place Order to Buy 1 More at 1.2790
Stop for ALL at 1.2610
If USD/CAD retraces again, we want to be a buyer. The Bank of Canada’s monetary policy announcement is one of the biggest event risks this week and given the recent deterioration in manufacturing activity, ballooning of the trade balance, and the rise in the unemployment rate, the BoC has every reason to be dovish. At the same time, the U.S. dollar is oversold and we believe that it is due for a bounce during this quiet data week.