Canada will announce its monthly GDP on July 31, at 15:30 MT time.
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.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
Follow the report on August 14 at 15:30 MT time!
The market sentiment switched to risk-on. The US dollar is dipping down, while riskier assets are rising, especially the Australian dollar after the positive employment data. All eyes on US unemployment claims.
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