Will the Canadian dollar rise?
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
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.
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.
Latest news
ECB report is in focus
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Markets await Biden to unveil "trillions dollars"
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
USD came under selling pressure
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
Deposit with your local payment systems
