The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
Keep an eye on the important release for the loonie
The level of GDP growth for Canada will be published on June 28, at 15:30 MT time.
The GDP growth represents the change in the inflation-adjusted value of all goods and services produced by the economy. During the previous release, the indicator advanced by 0.5%. That was a higher level than the forecasts by analysts. It made the Canadian dollar rise. Will the situation repeat itself this time? Let's see.
• If the actual level of GDP growth is higher than the forecasts, the Cad will rise;
• If the actual level of GDP growth is lower than the forecasts, the CAD will fall.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
The market sentiment is mixed, but there are still interesting movements on the market.
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