Here we gathered the best and the worst performers of the week and the most volatile pairs .
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.
The European Central Bank will meet today to discuss the current monetary policy and the fate of the quantitative easing program
Canada will publish the headline and core retail sales on January 24 at 15:30 MT time.