579. Liquidation is coming!
At this moment, the Bank of Montreal, in the trading room, Chairman Mai Pida, can't help but have a trace of regret, why did he close 1 million lots early, but now the USD/CAD has skyrocketed to the 1.1010 position, and they have lost a lot of dollars in vain! They previously held a total of 2 million USD/ The average position of the Canadian dollar was opened at 1.0800, but today 1 million lots have been closed, and the average position is at 1.0950, with a total floating profit of 150 points, and $1.5 billion has been pocketed.
Today they still have a long position of 1 million lots of USD/CAD – a floating surplus of 210 pips, for a total of $2.1 billion.
"Chairman, are we going to continue to close the position?"
"Chairman, now that USD/CAD is at a high level, are we going to close some of our positions?"
"Chairman, wait for the Canadian economic data to come out, will we close some positions?"
····
Now that Adam has been driven away, Mepida himself is in charge and supervised! At this moment, seeing that there are still 2.1 billion US dollars floating in the account, he is very excited in his heart, and secretly said: "Seeing that Adam is not wrong at all, the US dollar/Canadian dollar has really skyrocketed! This time he should still make a lot of money, and we swept him out of the Bank of Montreal, it is really the right choice!"
Immediately said to everyone: "Continue to hold, the USD/CAD is so crazy today, and if the Canadian economic data is bullish for the USD/CAD, won't it rise even more!"
At this time, the two traders said:
"Didn't you say that you closed all the long positions in the US dollar and the Canadian dollar this morning, Chairman of the Board??"
"It's really a good opportunity for the chairman to close the position now!"
This Mepida is just a street away from Adam, just a half-ass.
·····
Mai Pida hesitated for a moment and said, "Keep holding!"
He is indeed a half-baked trader, and after Adam left this time, he also made other arrangements for the trading department, and he let another friend lead the trading department of the Bank of Montreal, and this friend of his is more stable and conservative!
·····
At this moment, Rookfield Asset Management, the president's office, Dai Yan sat in the boss's chair, his back was in a cold sweat, he didn't expect that the USD/CAD had skyrocketed to such a point, it had risen to the 1.1010 position, compared with the afternoon, it had risen by another 60 points, rising all the way from the 1.0950 position, creating one new high after another!
At this moment, every time the USD/CAD jumps, his heart is terrified! Now he is beginning to regret in his heart, regretting that he did not follow Danny's advice and stop the loss as soon as possible.
Dai Yan sighed deeply and muttered, "It's irreparable now, what should I do!!
They now have 6 million lots of long positions on USD/CAD in their accounts, with an average open position of 1.0800.
When the USD/CAD was at 1.0950, it was already floating by 150 points, totaling $9 billion! Now that the dollar is at 1.1010, they are now floating and losing 210 points in their account, totaling $12.6 billion, and now the available funds in the account are less than $1.5 billion, and if USD/CAD rises by 30 points again, they will blow up their positions and be finished.
Dai Yan felt deeply helpless, because last year, their Rookfield Asset Management Company made a total profit of $20 billion in overall investment, but he did not expect to lose $12.6 billion in the foreign exchange market at the beginning of this year! In recent years, Danny's foreign exchange department at Lukefield Asset Management has earned $17 billion, and $7 billion has been distributed to clients, and now it is good, all of a sudden, the foreign exchange department has lost $12.6 billion, and if it is liquidated, it will be much more than that. Now, if you inject funds again, it will be completely filling a bottomless hole, and Dai Yan immediately dispelled this idea.
After thinking about it, Dai Yan closed his eyes, said in a deep voice, and began to plan for the worst in his heart!
In the Forex trading department, Danny indifferently looked at the USD/CAD chart, which has now risen to the 1.1010 level. There is a huge loss of $12.6 billion in the account, and the available funds are less than $1.5 billion!
It would have been nice if Dai Yan had listened to his advice before, but now there is no help at all, even if the stop loss is useless, once they close the position, the USD/CAD will continue to skyrocket, and they will also be in the process of liquidating, because of the USD/CAD skyrocketing and liquidation!
A trader looked at Danny, who was silent, and immediately said anxiously: "Danny, now that USD/CAD has risen to the 1.1010 level, our account is almost unbearable!"
Now the trend of USD/CAD has almost pushed them into a desperate situation, with a huge loss of $12.6 billion in the account and less than $1.5 billion in available funds, and the USD/CAD has risen by 30 points again, and their account will be liquidated immediately!
Seeing that Danny seemed to be unconcerned, another trader was frightened and said: "There are still 30 points, and we are rising by 30 points!!
He clearly knows what the concept of their long position of 6 million lots of USD/CAD being forcibly liquidated! USD/CAD must soar to the sky, and at that time they will not have a penny left of their $20 billion!
Another trader panicked and shouted, "Danny, why don't you speak? What are we going to do now?"
Seeing that Danny still didn't say a word, he continued: "We may not be able to wait for tomorrow's Bank of Canada interest rate meeting!", his whole body was like a frightened bird, and he trembled a little when he spoke.
Now, according to this frenzied rally of USD/CAD, they will blow up their positions if they rise by another 30 pips, and tomorrow's Bank of Canada interest rate meeting will be in the Americas!
"Danny, you're going to say something!"
"Danny ???"
"Danny, why don't you talk to the CEO again and ask him to inject another billion dollars in so that we can carry it to the Bank of Canada's interest rate meeting!"
"Yes, at the Bank of Canada's interest rate meeting, if we suddenly raise interest rates, we may lose a lot of money!"
·····
Danny listened to everyone's nagging and said coldly, "No funds, continue to observe!"
Now even if he wants to inject funds, he believes that Dai Yan will not dare to take this risk, once the Bank of Canada does not raise interest rates at the interest rate meeting, or hints at interest rate cuts, then the USD/CAD will definitely skyrocket, and even if they inject more new funds into their accounts, it will be in vain!
Listening to Danny's cold words, the crowd sighed and stopped speaking, waiting for the judgment of fate.