The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
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.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
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