How Low Can the EUR Plunge?
Nothing can stop us from finding hgh quality trades and impactful news. This market wrap proves it, here’s what you need to know:
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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