Will the Canadian dollar rise?
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
How will the Canadian dollar react to the BOC meeting?
The Bank of Canada (BOC) will release its statement and publish the official rate on September 4, at 17:00 MT time.
The changes to the interest rate are not expected, but we will be looking for the clues on the next steps by the bank. Some of the analysts expect the BOC to throw the hints on the possibility of a rate cut, citing the trade uncertainty between the US and China and worsened economic outlook. Thus, any dovish comments will pull the Canadian dollar down. So, let’s wait for the outcome of the meeting.
• If the Bank of Canada is hawkish, the CAD will rise;
• If the Bank of Canada is dovish, the CAD will rise.
Similar
Will the RBNZ support the kiwi?
The New Zealand interest rate is announced on Wednesday at 03:00 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.
Latest news
What does the first Fed meeting of 2021 have for the USD?
The Federal Open Market Committee (a department of the Federal Reserve) will post its statement and an update on the interest rate on January 27 at 21:00 MT time
Stocks surged at the start of the week
Jump in to get a short market wrap with fresh trade ideas!
USD strengthened as optimism waned
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
Deposit with your local payment systems
