The US dollar’s weakness offered a boost to emerging-market currencies and oil.
GDP is the broadest measure of a country’s economic activity and the primary gauge of the economy’s health.
Canadian GDP data differs from that of other countries because it is released on the monthly basis and not just once in a quarter like in the United States or the euro area. As a result, we can get more accurate figures and have a better judgment about what’s happening in Canada.
USD/CAD is quite volatile, so if the figures exceed expectations, the CAD will be able to improve its po
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.