Canadian GDP growth may push the CAD up

Canadian GDP growth may push the CAD up

The level of monthly GDP for Canada is expected on March 1, at 15:30 MT time.

The level of GDP growth is the broadest measure of economic activity, which indicates economic health. Last time analysts forecast GDP growth to increase by 0.1%. The actual level came out in line with the analysts' expectations. If this time the release is higher than the forecast, the CAD will be supported.

• If GDP growth is higher than expected, the CAD will rise;

• If GDP growth is lower than expected, the CAD will fall.

Check the economic calendar

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The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.

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