Canada will post Retail Sales and Core Retail Sales on December 21, at 15:30 GMT+2.
How Will CAD React to BOC Monetary Policy Report?
What will happen?
BOC will report its Monetary Policy statement at 17:00 MT (GMT+3) on Wednesday, October 27.
It provides valuable insight into the bank's view of economic conditions and inflation - the key factors that will shape the future of monetary policy and influence their interest rate decisions.
Last time BOC decided to keep the key rate and monetary policy stimulus at the same level. As the result, CAD/JPY dropped by 1%.
How to trade on BOC Monetary Policy report?
- If the report is more hawkish than forecast, the CAD is likely to strengthen against other currencies.
- If the report is more dovish than forecast, the CAD is likely to weaken against other currencies.
Instruments to trade: CAD/JPY, USD/CAD, CAD/CHF.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.