How Will GDP Affect CAD?
What will happen? Canadian m/m GDP will be announced at 15:30 MT (GMT+3) on Thursday, September 30…
A trigger for loonie’s breakout
Do you want to trade the Canadian dollar this week? Take the opportunity and follow the release of Canadian GDP on January 29, at 15:30 MT time!
Instruments to trade: USD/CAD, CAD/JPY, EUR/CAD
This week is full of GDP releases. After the US data, we get the Canadian one. Traders are usually excited for these indicators, as they represent how well an economy is doing in the current conditions. Last month's GDP for Canada was great. It came out at +0.4%, while analysts expected +0.3%. At the same time, it was one of the lowest increases since the economy has started to recover. Despite that, the CAD strengthened that day. Now we are facing a crucial moment for the USD/CAD pair, as it consolidates at the multi-year lows. Thus, a famous question "a breakout or a reversal" of USD/CAD may be answered this Friday.
- If the GDP is stronger than the forecasts, the CAD will strengthen.
- A lower-than-expected GDP will weaken the Canadian dollar.
Similar
Main Market Trends on September 23
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
What will move the markets on September 20-24
Quadruple witching is gone and now there are no reasons for the market to hinder. From banks statements and economic data to gas storage reading and Fed’s Powell speech – get ready for active trading.
Latest news
British inflation may send the GBP up
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
What will move the market on October 18-22?
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Gold Skyrocketed, USD Dropped. What Drives The Market Today?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
Deposit with your local payment systems
