We prepared an outlook of major events of this week. Check it and be ready!
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.
Bank of Canada (BOC) will make a statement on December 8, 17:00 GMT+2.
The United States will publish Flash Manufacturing and Services PMIs on Tuesday at 16:45 GMT+2.
Don't miss our new digest with the most important events for the next week.
China's activity is recovering, US stocks and other news!
News is always essential. Especially when we speak about the FOREX market. What is the most important information for today? Let's see together.