Will the Canadian dollar strengthen?

Will the Canadian dollar strengthen?

Canada will release its GDP growth rate at 15:30 MT time on November 29. The indicator represents the change in the inflation-adjusted value of all goods and services produced by the economy.  It shows the economic health of a country. If it increases, the central bank considers raising the interest rate. As a result, the Canadian dollar gets stronger.  During the previous release, the indicator came out lower than the forecasts. It advanced only by 0.1% (vs. the forecast of +0.2%). Let’s see what to expect this time. 

• If the indicator is greater than the expectations, the CAD will go up.

• If the indicator is weaker than the expectations, the CAD will go down. 

Check the economic calendar 


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Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

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.

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