
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Statistics Canada will release Consumer Price Index (CPI) on Wednesday, April 20 at 15:30 MT time. It’s a monthly release, usually published on the third Wednesday of the next month. CPI is the most important inflation-related release due to its earliness and wide coverage. Moreover, it’s one of the few numbers in the calendar that excludes seasonality.
Canada is struggling with inflation, just like other leading countries. Now the inflation is at 5.7%, and the economists suppose it’s not the peak yet. Due to the Russian-Ukrainian conflict, Canada is experiencing obstacles with the supply of goods and commodities. As a result, in February of 2022, the consumers paid higher gasoline and groceries prices than the same month a year earlier. Housing costs continue to rise, increasing at the fastest annual rate since August 1983.
The previous month’s result was slightly higher than expected, 1.0% vs. 0.9%. Due to the high forecasts, the CAD has been steadily growing since March 8. The sustainable growth of the currency means it is not affected much by releases.
Even if the previous results might not move the CAD crucially, anything could happen.
Check the Economic Calendar
Instruments to trade: USDCAD, EURCAD, CADJPY
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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