The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Will the Bank of Canada hold the rate?
The Bank of Canada’s release of the interest rate is at 17:00 MT time on December 4.
The Bank of Canada announced a steady rate of 1.75% in the October session. Being the highest level since December 2008, it was considered appropriate for the current state of the economy. However, the governor Mr. Poloz said that the bank would be “mindful that the resilience of Canada’s economy will be tested” within the context of the global economic slowdown and the US-China trade conflict. The latter has shown certain advancements recently. Nevertheless, the uncertainty is still in place and the Canadian domestics indicators give mixed results on the economy’s status. We will see on Wednesday how optimistic the monetary policy makers are.
- If the BOC is hawkish, the CAD will rise;
- If the BOC is dovish, the CAD will fall.
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
Canada will publish the monthly GDP growth on Tuesday, at 15:30 MT time.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.