Will the Bank of Canada support the CAD?
The Bank of Canada will publish its monetary policy statement and make the rate announcement on May 29, at 17:00 MT.
37th straight current account surplus for July is reported by Japan
Japan reported a 37th consecutive monthly current account surplus for July, according to a Reuters survey on Friday. It actually reflects a supposed ascend in income from overseas investments.
The survey of 19 experts predicts a current account surplus of approximately 2 trillion Japanese yen in July from June’s outcome of 935 billion yen.
Chief economist at Norinchukin Research Institute, Takeshi Minami told that Japan will probably maintain a current account surplus in 2017 due to more favorable economic conditions overseas.
Interest rates as well as stock prices overseas surpass those of Japan. That’s why interest revenue and also investment income are supposed to go up.
The finance ministry is going to disclose the data soon on Friday.
Apparently, Japan's trade as well as current account surpluses have been heavily criticized by Donald Trump in his "America First" campaign.
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RBNZ Meeting
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
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