The CAD traders await the GDP growth

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.

Check the economic calendar


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