Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
Will the Canadian dollar rise?
Information is not investment advice
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
Instruments to trade: USD/CAD, EUR/CAD, CAD/JPY, CAD/CHF
In September, the Canadian economy grew 0.8% against the value of August. That’s a slightly weaker performance after 0.9% the month before, and significantly weaker than 2.5%, 6.2%, and 4.6% in the previous months consecutively. And the thing is, it’s not bad news: a developed country rarely sees figures higher than 1% of economic growth month over month. So seeing the GDP slowly calm down should mean that the Canadian economy is most probably getting back to normal. That’s a strategic view though. In the short-term, on the day of the GDP announcement, the market will move according to its expectations. If the GDP is better than thought, the market will push the CAD; otherwise, it will drag it down.
- If the GDP outperforms expectations, that may push the CAD.
- If the GDP underperforms, the CAD may go down.
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