Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
US GDP growth: keep an eye on the USD
The United States will publish the level of preliminary GDP growth at 15:30 MT time on November 27. The indicator represents the annualized change in the value of all goods and services produced by the economy. Traders pay attention to the preliminary release, as it gives a preview into the economic activity of a country. If the economic conditions are good, the Federal Reserve will consider applying changes to the current interest rate to the upside. According to the forecasts, the preliminary GDP growth will advance by 1.9%.
• If the actual level is higher than the forecasts, the USD will rise.
• If the actual level is lower than the forecasts, the USD will fall.
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Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
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Big day for USD
The US NFP will be published on August 7 at 15:30 MT time.
Main market movements on August 6
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
GBP is in focus
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…
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