Job data for Canada: a relief or another disappointment?
Canada will publish employment change and an unemployment rate on Friday, 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.
Instruments to trade: USD/CAD, CAD/JPY, EUR/CAD
The gross domestic product measures the change in the value of the goods and services produced by the economy. Also, it tends to move the domestic currency pretty much. Last month, the Canadian dollar appreciated right after the release. Though the figures signaled that the economy was weak, they came out better than the forecasts (-11.6% vs. -12.5% expected). Prepared for the worse, traders started to buy the CAD against other currencies. That’s why it’s a good chance for trading the CAD on Friday.
- If the indicator is higher than the forecasts, the CAD will go up;
- If the indicator is lower than the forecasts, the CAD will go down.
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Volatility for the EUR is coming
Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time
Will the Canadian dollar rise?
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
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