The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
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.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
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