The US consumer sentiment will be published on July 17 at 17:00 MT time.
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.
The Canadian central bank will announce interest rates and make a speech on Wednesday, July 15, at 17:00 MT time. Also, the BOC press conference will be later at 18:15 MT time.
Risk-on is back on the market. Riskier currencies and stocks are in favor. Gold is rising too as investors try to hedge.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…