There were no major moves during the Asian trading session, however we have some events today, which may affect the sentiment in the market.
A significant release may push the Canadian dollar
The trade balance for Canada will be released on May 9, at 15:30 MT time. The indicator represents the difference in value between imported and exported goods. A positive number shows that more goods were exported than imported. Last time the actual level of trade balance came out negative, but the figures were still higher than the forecast. It made the Canadian dollar rise. Let’s see if the situation repeats itself this time.
• If the actual level of the trade balance is higher than the forecasts, the CAD will go up;
• If the actual level of the trade balance is lower than the forecasts, the CAD will go down.
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