What is it? It checks the change in interest rate at which major financial institutions borrow and lend overnight funds between themselves.
Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.
Usual Effect: If the number is higher than the forecast, you can expect the CAD to rise.
When? October 22nd at 10:00am Eastern Time.
Trading Tip: This announcement can greatly affect the CAD, make sure to make your trades before.
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