How to trade CAD ahead of the GDP release?
Canada will publish its monthly GDP growth rate at 15:30 MT on January 31.
Traders await the releases for the USD
The USA will publish the level of retail sales and core retail sales on September 13, at 15:30 MT time. The indicator of retail sales represents the change in the total value of sales at the retail level. Its core level excludes automobile sales due to their high volatility. Last time the indicators outperformed the forecasts. The headline indicator increased by 0.7% (vs. the forecast of +0.3%). As for the core level, it advanced by 1% (vs. 0.4% expected). These great figures boosted the USD. Will the situation repeat itself this time?
• If the releases are higher than the forecasts, the USD will rise;
• If the releases are lower than the forecasts, the USD will fall.
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