Will the GDP growth strengthen the CAD?
Canada will publish the monthly GDP growth on Tuesday, at 15:30 MT time.
The CAD awaits the retail figures
Canada will post an update on change in core retail sales on March 20 at 14:30 MT time.
Instruments to trade: USD/CAD, CAD/JPY, EUR/CAD
The Bank of Canada unexpectedly cut the interest rate, so the Canadian dollar fell to the lows of February 2016 against the USD. One of the releases which may help the loonie to recover this week is the retail figures. Analysts recommend paying attention to the core level, as it shows more accurate information due to exclusion of volatile automobile sales. Last time, an advance by +0.5% brought short-term positive momentum to the CAD. That is, the release will be important for day-traders.
- If the actual level of indicator is higher than analysts’ expectations, the CAD will rise;
- If the actual level of indicator is lower than analysts’ expectations, the CAD will fall.
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