Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Bank of Canada’s meeting
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The Bank of Canada will announce its interest rate decision at 17:00 MT time on September 6. Canadian central bank raised its benchmark interest rate by 25 basis points from 0.50% to 0.75% at July meeting. Such step was followed by a significant increase in Canadian dollar’s exchange rate. Canadian economy seems in a good shape and there’s a high possibility of another rate hike by the year-end. At the same time, risks may come from Canada’s neighbor, the United States, as well as the elevated debt of Canadian households.
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Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
Latest news
Big day for USD
The US NFP will be published on August 7 at 15:30 MT time.
Main market movements on August 6
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
GBP is in focus
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…
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