Final Opportunity for the CAD
Canada will post Retail Sales and Core Retail Sales on December 21, at 15:30 GMT+2.
What does the Bank of Canada think about the CAD?
The Bank of Canada (BOC) will release the rate statement with an update on the interest rate on December 9, at 17:00 MT time.
Instruments to trade: USD/CAD, EUR/CAD, GBP/CAD
On November 26, the Bank of Canada published an opening statement for the government. According to it, the economy is still dealing with pandemic problems. Moreover, the situation with the Canadian economy will heavily depend on the virus. At the same time, the regulator believes that vaccines and effective treatment will be widely available by mid-2022. The employment is recovering, but it still has fewer jobs than it did before the pandemic. The same goes for Canadian inflation, as the most recent release showed CPI at 0.7% in October. Thus, the Bank of Canada sees such measures as a low interest rate (currently held at 0.25%), and quantitative easing appropriate until the recovery is underway. It’s unlikely that we will see any changes to the interest rate or easing measures. However, the tone of the statement may provide additional insights into the bank’s decisions.
- If the statement is hawkish, the CAD will strengthen.
- If the statement is dovish, the CAD will fall.
Similar
How Will CAD React to BOC Monetary Policy Report?
What will happen? BOC will report its Monetary Policy statement at 17:00 MT (GMT+3) on Wednesday, October 27…
Major Event Alert: Canadian Retail Sales
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
Latest news
ISM PMI Indicates Contraction
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
US PCE May Soar Soon
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
Bank of England Tries to Save the Pound
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).
