What drives the market on July 1?
The market sentiment is mixed. Let’s look at most interesting movements on the market today.
Will the Bank of Canada boost the Canadian dollar?
Bank of Canada will make its rate statement and announce the official rate on March 6 at 17:00 MT time.
We do not anticipate a change of the rate, but the bank of Canada may provide some supportive comments for the Canadian currency. During the previous meeting, the central bank kept its rate at 1.75% and the bank of Canada governor gave some dovish comments regarding the current economic conditions amid the falling oil prices. More hawkish outlook during the upcoming meeting will boost the Canadian dollar.
• If the Bank of Canada is hawkish, the CAD will rise;
• If the Bank of Canada is dovish, the CAD will fall.
Similar
Will the CAD rise on a strong GDP growth?
Canadian monthly GDP growth rate is announced on Tuesday at 15:30 MT time.
Focus of the week
What will drive the market this week?
Latest news
The RBA: keeping the AUD alive?
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
What will affect markets on July 3?
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
How to trade on July 2?
The risk-on tone is back on the market again. Let’s look at main trading opportunities.
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