Can anyone see whether this was an actual market move or was it an erroneous quote? The spike seems to appear on all CAD crosses which might suggest it was an actual move, or could a bad tick on one pair ever show up across all CAD crosses? If it was a market move does anyone know what could have caused it, I can't see that any data was scheduled for release at that time. Thanks USD/CAD Spike 19th Sept 3.30pm EST ~
Sierra Charts - Gain Capital Data Feed USDCAD 1 Minutes Time Open High Low Close 15:33 1.0492 1.0503 1.0486 1.0503 15:34 1.0484 1.0491 1.0483 1.0486 OANDA Charts USDCAD 5 Minutes Time Open High Low Close 15:30 1.0492 1.0581 1.0483 1.0485 FXCM - NetDania Charts USDCAD 1 Minutes 15:33 1.0488 1.0641 1.0482 1.0483 IntelliChart - Comstock Data Feed Charts USDCAD - No spike at all It looks like something did happen. It could be that one dealer posted a false quote(s), and it would not be surprised if a lot was executed off of it. Nothing on calendar that I see. I wasn't watching it at the time.
Thanks MiamiHurricanes, it's a mystery, some seem to have a spike and others don't. I've seen the spike on Alpari UK charts (screenshot), a missing bar altogether on Barx, and the spike on CMC's charts. Does anyone have a Hotspot or FXAll chart (if they have charts), or other reliable source?
On MB Trading there are 9 ticks all over the place up to 1.0641 - it only lasted for 3 seconds. Hotspot had a high of 0622. Apparently a mispricing/error from a bank - and trades on these prices should be reversed.
Thanks Pippi436 and Cybren, it seems like some brokers are keeping the spike and others aren't. It's strange though, the spike appears on all CAD crosses, I've never seen that before with an erroneous quote, it's usually limited to just one pair as far as I remember.
Yeah, we had some off market price in AUD/CAD and have not heard back on our objection yet. We expect nothing although we have amended these trades ourselves before to help out counterparties but last week seems to have made a difference and market courtesy seems not to apply anymore....
We were filled on a a obvious off market price on of the big ECN's. Our clearing managed to contact our counterparty and we agreed to end up in the middle. Happens more often, but in light of last weeks trading we were pleasantly suprised by their willingness. It's probably because we have helped them out a few times before.