Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Inflation figures may boost the USD
The US will release the level of CPI and core CPI on July 11, at 15:30 MT time.
CPI stands for Consumer Price Index. It's one of the main measures of US inflation. There's a direct link between the US inflation and the price of the USD. The higher the inflation, the higher the USD in the short-term. The last time, American CPI came out in line with the forecasts. However, the core CPI reached a lower-than-expected level (0.1% vs. the forecast of 0.2%). The releases resulted in the mixed trading of the USD.
• If the data is greater than the forecast, the USD will rise.
• If the data is weaker than the forecast, the USD will go down.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The US unemployment claims are announced on Thursday at 15:30 MT time.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…