Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Will the Canadian dollar strengthen?
Information is not investment advice
Canada will release its GDP growth rate at 15:30 MT time on November 29. The indicator represents the change in the inflation-adjusted value of all goods and services produced by the economy. It shows the economic health of a country. If it increases, the central bank considers raising the interest rate. As a result, the Canadian dollar gets stronger. During the previous release, the indicator came out lower than the forecasts. It advanced only by 0.1% (vs. the forecast of +0.2%). Let’s see what to expect this time.
• If the indicator is greater than the expectations, the CAD will go up.
• If the indicator is weaker than the expectations, the CAD will go down.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.