What will happen? Canadian m/m GDP will be announced at 15:30 MT (GMT+3) on Thursday, September 30…
An opportunity to trade the Canadian dollar
The Bank of Canada will make its rate statement on December 5 at 17:00 MT time.
Last time the Reserve Bank of Canada lifted its interest rate to 1.75% in October, as widely expected. It was the third increase this year. The rate reached the highest level since 2008. As the USMCA agreement was reached, the BOC can suggest hints on further tightening of its monetary policy. We do not anticipate the rate hike this time, but the comments from the statement can increase the volatility in the market.
• If the BOC statement is hawkish, the CAD will rise.
• If the BOC statement is dovish, the CAD will fall.
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
Canada will release its inflation rate in different forms, including Common, Median, Trimmed, Core, and All items CPI on September 15, 15:30 GMT+3.
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).