CAD is in focus
Follow Canadian core retail sales on September 18 at 15:30 MT time!
All eyes on Canadian GDP
Canadian GDP growth will be released on Friday, May 29, at 15:30 MT time.
Instruments to trade: USD/CAD, EUR/CAD, AUD/CAD
The growth rate of a nation’s Gross Domestic Product, also known as GDP, is one of the most important indicators for each currency. Canadian economy stagnated in February after three months of growth. This time we’ll get the figures for March. It’s quite clear that the coronavirus had its devastating impact on the data. The bigger the contraction in Canada’s GDP, the more traders will decide to sell the Canadian currency.
If the figure is better-than-thought, the CAD will rise.
Otherwise, the CAD will fall.
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The Bank of Canada will publish a rate statement and an update on the interest rate on September 9, at 17:00 MT time.
What drives the market on August 28?
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The US weekly labor data is out!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
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