Jul 172012
 


6C 09 12 (1 Min) 07.17.12

7/17/2012 BOC Rate Statement / Overnight Rate (0300 HI time / 0900 EDT)
Forecast: 1.00%
Actual: 1.00%
Previous Revision: n/a
Spike WITH 2ND PEAK
Started @ 0.9838
1st Peak @ 0.9849 – 0301 (1 min)
11 ticks

2nd Peak @ 0.9853 – 0335 / 0339 (35 / 39 min)
15 ticks – 2x top

Reversal to 0.9828 – 0408 / 0419 (68 / 79 min)
25 ticks

Notes: The BOC left interest rates unchanged citing modest growth domestically with slowing US and European growth. With little impetus, the market reacted with a small rise of 11 ticks in 1 bar then a 2nd peak of 15 ticks about 30 min later. The spike started at the 200 and 50 SMAs and crossed the 100 SMA near the origin. It surrendered its entire gain before the :01 bar expired. Then the 2nd peak slowly climbed up to the R1 Pivot area before the reversal crashed for 25 ticks 30 min after the 2nd peak.