Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.
An opportunity to trade the Canadian dollar
The Bank of Canada will make its rate statement on December 5 at 17:00 MT time.
Last time the Reserve Bank of Canada lifted its interest rate to 1.75% in October, as widely expected. It was the third increase this year. The rate reached the highest level since 2008. As the USMCA agreement was reached, the BOC can suggest hints on further tightening of its monetary policy. We do not anticipate the rate hike this time, but the comments from the statement can increase the volatility in the market.
• If the BOC statement is hawkish, the CAD will rise.
• If the BOC statement is dovish, the CAD will fall.
The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 17:00 MT time.
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!