Job data for Canada: a relief or another disappointment?
Canada will publish employment change and an unemployment rate on Friday, at 15:30 MT time.
Will the GDP growth strengthen the CAD?
Canada will publish the monthly GDP growth on Tuesday, at 15:30 MT time.
Instruments to trade: USD/CAD, CAD/JPY, CAD/CHF
This is the leading indicator of the economic activity of a country. As it measures the value of all products and services produced by an economy, it plays a significant role in the assessment of economic activity. A higher GDP indicates good conditions of the economy and increases the investment attractiveness of domestic currency. Last time, the Canadian GDP rose by 0.3%. This was a higher level than analysts' expectations of 0.1%. As a result, the Canadian dollar strengthened against other currencies.
• If the actual level of GDP is higher than the forecasts, the CAD will rise;
• If the actual level of GDP is lower than the forecasts, the CAD will fall.
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Volatility for the EUR is coming
Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time
Will the Canadian dollar rise?
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
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