The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 17:00 MT time.
Will the Canadian jobs data surprise the market?
The Canadian employment change and the unemployment rate will be announced at 15:30 MT on November 8.The change in the employment dynamic is an important indicator reflecting the health of the country economy. The better the condition of the real economy sector, the more jobs are created to expand production plans and foster the existing pace of development. Consequently, the more people land jobs, the less the unemployment rate and higher wage packets. The October 11 release showed better than expected data which led to CAD appreciation against USD on the day of the announcement. We will see on November 8 if the trend maintains the same or not.
- If the jobs data is better, the CAD will rise.
- If the jobs data is worse, the CAD will fall.
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
The US dollar keeps falling for the third day in a row, whereas riskier assets are rising. Let’s discuss the main market events and analyze the charts.
The focus of traders’ attention shifted from Brexit and the US stimulus to the coronavirus . The WHO claimed that Europe become the new Covid-19 epicenter.
Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.
The European Central Bank publishes the monetary policy statement alongside with an update on the interest rate on October 29, at 14:45 MT time.