Will the Canadian dollar rise?
The Canadian monthly GDP is announced on Wednesday 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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Will the pound keep standing?
UK Preliminary Quarterly GDP is out on Thursday at 09:00 MT time.
Canadian job data may push the CAD up
Canada will release the employment change and the unemployment rate on October 9, at 15:30 MT time.
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Market outlook for this week
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How to trade ahead and after BOC report?
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.
Market sentiment slightly improved
USD’s rally takes a pause, while riskier assets are modestly rising.
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