The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
Will the CAD rise on a strong GDP growth?
Canadian monthly GDP growth rate is announced on Tuesday at 15:30 MT time.
Instruments to trade: USD/CAD; AUD/CAD; CAD/JPY; GBP/CAD
The contraction of 7.2% that was brought by March was the biggest on record for the Canadian economy. However, March was not the last month during which the virus showed its true extent – it was April. Although some sectors such as the stock market already saw signs of recovery, the real economy was still under pressure. The estimation provided by the Canadian office of national statistics is 11% for April – that’s what the market factored in. That’s why a figure at or above this level will push the CAD, while any underperformance will drag it down.
- If the GDP growth is better than expected, the CAD will rise;
- Otherwise, it will fall.
The greatest sale of Bitcoin keeps going.
Check our story about the stocks that have the potential to go either up or down big time! In this article, we'll tell you about Nvidia, Apple, Philip Morris, and Coinbase.
Once in a month, the euro has a very special day of increased volatility at the start of the European trading session.