Will the Canadian GDP make the CAD stronger?

Will the Canadian GDP make the CAD stronger?

What will happen?

Canada will publish the monthly GDP growth on March 31, at 15:30 MT time. GDP growth is one of the most important indicators of the economic activity of a country. If it recovers quickly, it gives a signal to a central bank that a monetary policy could be adjusted soon. Last time, the Canadian GDP growth revealed an economic expansion of 0.1%, as expected. The CAD had a mixed reaction to this event.

How to trade on the Canadian GDP growth?

Nothing is easier! Open our economic calendar at 15:30 MT on Wednesday and follow the rule below.

  • If the GDP growth is greater than the forecast, the CAD will rise;
  • Otherwise – fall.

Instruments to trade: USD/CAD, EUR/CAD, CAD/JPY

Check the economic calendar

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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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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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