What drives the market on July 8?
The market takes breath after the long rally. What opportunities do traders have today?
Trade on the comments by the BOC
The Bank of Canada (BOC) will present its monetary policy report and make the rate statement on January 9 at 17:00 MT time.
The market expectations of the rate hike are low, however, the comments by the bank of Canada governor Stephen Poloz may support the Canadian dollar. Last comments by the BOC governor Mr. Poloz were not very certain due to the fall in the oil prices and the trade war between the US and China. As the output cut by the OPEC+ has started since the beginning of the year, the central bank of Canada may sound more confident this time.
• If the BOC is hawkish, the CAD will rise;
• If the BOC is dovish, the CAD will fall.
Similar
The US labor market is in focus again
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
How to trade on July 7?
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Latest news
Risk-on is back. Market news and trade ideas on July 9.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
Deposit with your local payment systems
