
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.
In October, the Canadian economy managed to surge at a faster-than-anticipated tempo, although evidence of economic momentum heading into the end of 2018 might not be enough to get the country’s key financial institution out of the sidelines because of the recent dive in crude.
In October, the country’s GDP headed north by 0.3% from the previous month, underpinned by strength in insurance, manufacturing, and finance. That’s what Statistics Canada data revealed.
Market experts had hoped that monthly GDP would tack on by up to 0.2%.
Since October, the price of crude, which appears to be one of the country’s key exports, has gone down nearly 40%.
Since July last year the Bank of Canada has had its benchmark interest rate lifted up to five times bringing it to the reading of 1.75%. However, hopes for further tightening were confounded after Canada’s main financial institution left rates intact earlier this month and hinted that the tempo of future lifts could be more gradual.
Financial markets count on 14 basis points of tightening in 2019, in contrast with 43 basis points prior to the December policy announcement.
Market experts still hope annualized fourth-quarter surge would fall short of the major bank’s 2.3% forecast because of crude production trims.
As some market experts pointed out, the data gets along with their 1.7% forecast for Q4 GDP. However, they will require reliable news outside the energy sector to have that mark reached.
On Friday, the Canadian dollar went down reaching a 19-month minimum of 1.3564 to the evergreen buck due to the fact that pressure on equities and the price of crude compensated the firmer-than-anticipated GDP leap.
According to separate data from Statistics Canada, the value of the country’s retail trade managed to leap by 0.3% in October the previous month due to higher sales at car dealers as well as gasoline stations. Market experts had predicted a 0.4% rally.
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.
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
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!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
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