
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
Canadian monthly GDP will be out at 15:30 MT time on Friday.
Instruments to trade: USD/CAD, NZD/CAD, CAD/JPY, EUR/CAD
Monthly GDP is the primary economic indicator for any country. For Canada, it has been declining since March 2018. Only the November figure broke the trend and rose to the level of 0.1%. That surprised the market, which believed there would be nothing better than 0% at that time. However, many say that the reason why the GDP rate gained was unusually cold weather in November, which boosted the utilities sector and pushed the GDP. Strategically, the fundamentals in the last quarter of 2020 are more depressive than promising, especially in view of the rail strikes and pipeline ruptures that have kept happening in Canada up until now. On the other side, the US President is pressing on the USMCA alliance, which should bolster the Canadian economy in the long-term. Therefore, it will be safe to expect a very modest monthly GDP growth in December.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
It’s Wednesday, the froggy day for the whole internet. Here’s news that moves the market:
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
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