Bank of Canada (BOC) will make a statement on December 8, 17:00 GMT+2.
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.
Canada will publish employment change and an unemployment rate on Friday, at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.