Canada will publish the monthly retail sales and core retail sales on November 20 at 15:30 MT time.
Is the Canadian economy recovering?
Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.
Instruments to trade: USD/CAD, CAD/JPY, EUR/CAD
GDP is one of the most important indicators of the economic activity of a country. It represents the inflation-adjusted value of all goods and services produced by the economy. According to September’s release of Canadian GDP growth, the supportive measures by the government and the Bank of Canada helped the Canadian economy to recover. The indicator advanced by 3% (vs. the forecast of 2.9%). This was the fourth in a row bigger-than-expected release of the Canadian GDP. The Canadian dollar strengthened significantly after the release.
- If the GDP growth is higher than the forecast, the CAD will rise;
- If the GDP growth is lower than the forecast, the CAD will fall.
The market sentiment deteriorated because of the election uncertainty and worries about rising virus cases all over the world. Let's make some analysis!
The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 17:00 MT time.