Will the Canadian dollar rise?
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
Will the Canadian dollar reverse?
Canada will release the level of GDP growth at 14:30 MT on October 31.
The indicator of GDP growth represents the change in the inflation-value of all goods and services produced by the economy. It is the broadest measure of economic activity. Policymakers use this data when making decisions regarding interest rates. Despite an anticipated increase by 0.1%, last time the indicator remained stable. As a result, the Canadian dollar weakened on the release. However, this time we may see a different outcome.
• If the indicator is higher than the forecasts, the CAD will rise;
• If the indicator is lower than the forecasts, the CAD will fall.
Similar
Will the pound keep standing?
UK Preliminary Quarterly GDP is out on Thursday at 09:00 MT time.
Canadian job data may push the CAD up
Canada will release the employment change and the unemployment rate on October 9, at 15:30 MT time.
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