Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The CAD traders await the GDP growth
Information is not investment advice
Canada will publish the figures of GDP growth on August 30, at 15:30 MT time.
GDP measures the change in the value of all goods and services produced by the economy. Traders, investors, and policymakers pay attention to it, as represents the economic activity of a country. Higher figures of GDP growth push the domestic currency up. During the previous release, the Canadian indicator advanced by 0.2% (vs. the forecast of 0.1%). The USD/CAD pair inched lower after the release but reversed immediately on the stronger dollar. Let's see what happens this time.
• If the actual level of indicator is higher than the forecast, the CAD will strengthen;
• If the actual level of indicator is lower than the forecast, the CAD will weaken.
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!