What will happen? Canadian m/m GDP will be announced at 15:30 MT (GMT+3) on Thursday, September 30…
Inflation data is the most important indicator that affects the central bank’s monetary policy. The bank decides whether to raise the interest rate or not by considering inflation figures. CPI is the most important inflation-related indicator. As a result, it’s obvious that traders pay great attention to it. CPI data will be out on July 20 at 15:30 MT time.
The CAD strongly needs support of positive economic data. It is highly correlated with oil prices. As soon as oil benchmarks appreciate, the Canadian dollar gets a boost and vice versa. Up to now, the oil market has been highly volatile. It had been affecting the Canadian currency as well. As a result, the CAD needs support of economic indicators to stabilize.
• If the data is greater than the forecast, the CAD will rise.
• If the data is weaker than the forecast, the CAD will go down.
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 bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).