What will happen? Canadian m/m GDP will be announced at 15:30 MT (GMT+3) on Thursday, September 30…
Will the Bank of Canada support the CAD?
The Bank of Canada will publish its monetary policy statement and make the rate announcement on May 29, at 17:00 MT.
The central bank won’t make changes to the current interest rate, which is set at 1.75%. However, the BOC governor Stephen Poloz may throw some hints on the possible changes to the current monetary policy. Last time, Mr. Poloz was more positive about the economic outlook of the country, than during the previous meetings. His tone supported the loonie. If he provides any hawkish hints this time, the CAD will rise.
• If the BOC is hawkish, the CAD will go up;
• If the CAD is dovish, the CAD will go down.
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
Canada will release its inflation rate in different forms, including Common, Median, Trimmed, Core, and All items CPI on September 15, 15:30 GMT+3.
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).