Will PMIs Trigger Fresh Highs in the USD?
The United States will publish Flash Manufacturing and Services PMIs on Tuesday at 16:45 GMT+2.
The CAD traders await the GDP growth
Canada will publish the figures of GDP growth on August 30, at 15:30 MT time.
GDP measures the change in the value of all goods and services produced by the economy. Traders, investors, and policymakers pay attention to it, as represents the economic activity of a country. Higher figures of GDP growth push the domestic currency up. During the previous release, the Canadian indicator advanced by 0.2% (vs. the forecast of 0.1%). The USD/CAD pair inched lower after the release but reversed immediately on the stronger dollar. Let's see what happens this time.
- If the actual level of indicator is higher than the forecast, the CAD will strengthen;
- If the actual level of indicator is lower than the forecast, the CAD will weaken.
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The GBP may be supported
Great Britain will publish its trade balance for April on June 11, at 09:00 MT time.
The pack of PMIs to boost the euro
Once in a month, the euro has a very special day of increased volatility at the start of the European trading session.
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