Will PMIs Trigger Fresh Highs in the USD?
The United States will publish Flash Manufacturing and Services PMIs on Tuesday at 16:45 GMT+2.
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
The GBP may be supported
Great Britain will publish its trade balance for April on June 11, at 09:00 MT time.
The pack of PMIs to boost the euro
Once in a month, the euro has a very special day of increased volatility at the start of the European trading session.
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