Canada will release the employment change and the unemployment rate on October 9, at 15:30 MT time.
Pay attention to the inflation release for Canada
Canada awaits the release of monthly CPI on July 17, at 15:30 MT time.
Consumer prices are important as they represent one of the most significant parts of overall inflation. Central banks pay attention to this release and use it in their assessment of the possible changes to the interest rate. Rising prices drive policymakers to consider higher interest rates. On the other hand, the slowdown of CPI increases the possibility of a rate cut. June's release turned out to be positive for the CAD. Canadian CPI increased by 0.4% (vs. the forecast of 0.1%). It pushed the loonie higher. Let’s see what the release will bring to the CAD traders this time.
• If CPI is higher than expected, the CAD will go up;
• If CPI is lower than expected, the CAD will go down.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
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.