The CAD May Rise on Economic Data

The CAD May Rise on Economic Data

What will happen?

Canada will publish a GDP growth for April on June 30 at 15:30 MT time (GMT +3). This is one of the most important economic indicators. It shows the change in the value of goods and services produced by the economy in comparison to the previous month. In March, the GDP growth outperformed the forecasts. The indicator grew 1.1%, beating analysts’ estimates of 1%.

How to trade on the Canadian GDP?

If you want to trade on the release of this indicator, follow the economic calendar, compare the release with the forecasts and place an order afterward.

  • If the actual figures are higher than the forecasts, the CAD will rise;
  • Alternatively, the CAD will weaken.

Instruments to trade: USD/CAD, GBP/CAD, CAD/JPY

Check the economic calendar

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FED and BOE Make Another Attempt to Beat Inflation
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The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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