The Canadian dollar may move higher

The Canadian dollar may move higher

The level of GDP for Canada is going to be released at 15:30 MT time.

As you may know, the GDP growth is the broadest measure of economic activity of a country. Last time it increased by the higher-than-expected level of 0.3%. It made the CAD bulls excited and pushed the loonie higher. If this time it happens again, we can anticipate the rise of the Canadian currency.

• If the GDP is higher than expected, the CAD will rise;

• If the GDP is lower than expected, the CAD will fall.

Check the economic calendar

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