Canada will post Retail Sales and Core Retail Sales on December 21, at 15:30 GMT+2.
Will the CAD rise on positive Ivey PMI?
Ivey PMI will be announced at 17:00 MT time on January 7.
175 purchasing managers selected geographically across Canada report their business activity each month to Ivey Business School. Ivey PMI is calculated based on these numbers. As businesses react quickly to the changes in market environment and financial outlooks, this indicator is a central tool to assess Canada’s economic health. A resulting value below 50 generally means economic contraction, which was the case in September and October. The November value, which was released on December 5, was 60. That was higher than market expectations and signaled an economic upswing. If a similar scenario takes place on January 7, the CAD may grow.
- If the indicator exceeds the market expectation, the CAD will gain strength.
- If the indicator underperforms, the CAD will fall.
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
US Retail Sales will be out on November 16 at 15:30 MetaTrader time (GMT+2). Get ready with us!
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.