How to trade CAD ahead of the GDP release?

How to trade CAD ahead of the GDP release?

Canada will publish its monthly GDP growth rate at 15:30 MT on January 31. 

The year of 2019 was quite dull for the Canadian economy. In fact, it started well, showing a 0.6% growth rate in March, but since then the pace of economic growth has been declining more and more. Eventually, it reached a negative 0.1% in October, while the markets expected the nation’s GDP to rise by 0.1%. Mainly, such a performance resulted from the weaker manufacturing sector (the services industry remained unchanged). The manufacturing PMI was slightly higher in November compared to the October reading. However, the December number turned out quite disappointing. Let’s see how these figures affected Canadian monthly GDP for November.

  • If the GDP growth exceeds market expectations, the CAD will rise.
  • If the GDP underperforms the market expectations, CAD will fall.

Check the economic calendar

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