Will the Canadian dollar rise?
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
Canadian dollar is awaiting the jobs data
Canada will release the level of employment change and unemployment rate on October 11, at 15:30 MT time. The employment change represents the change in the number of employed people during the previous month. Last time, this indicator showed a great increase by 81.1 thousand jobs. The unemployment change, which is the percentage of the total unemployed workforce, stood at the same level of 5.7%. That scenario resulted in the rise of the Canadian currency. If this time the situation repeats itself, bulls of the CAD will be excited again.
• If the employment change is higher and the unemployment rate is lower than the forecasts, the CAD will go up;
• If the employment change is lower and the unemployment rate is higher than the forecasts, the CAD will go down.
Similar
Canadian job data may push the CAD up
Canada will release the employment change and the unemployment rate on October 9, at 15:30 MT time.
Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
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