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

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Follow us on Facebook

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
Will the CAD rise on a strong GDP growth?

Will the CAD rise on a strong GDP growth?

Information is not investment advice

Canadian monthly GDP growth rate is announced on Tuesday at 15:30 MT time.

 

Instruments to trade: USD/CAD; AUD/CAD; CAD/JPY; GBP/CAD

 

The contraction of 7.2% that was brought by March was the biggest on record for the Canadian economy. However, March was not the last month during which the virus showed its true extent – it was April. Although some sectors such as the stock market already saw signs of recovery, the real economy was still under pressure. The estimation provided by the Canadian office of national statistics is 11% for April – that’s what the market factored in. That’s why a figure at or above this level will push the CAD, while any underperformance will drag it down. 

 

  • If the GDP growth is better than expected, the CAD will rise;
  • Otherwise, it will fall.

 

Check the economic calendar

1.jpg

                                                                                                       LOG IN

Similar

Popular

Choose your payment system

Learn more