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

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The CAD traders await the GDP growth

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.

Check the economic calendar


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ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

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