Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
The GDP growth may push the USD up
The United States will release the level of final GDP growth on June 27, at 15:30 MT.
This indicator is the broadest measure of economic activity, that is why traders pay high attention to it. Last time it came out lower than the expectations (2.2% vs. 2.4%). The negative data raised concerns over the slowdown of the US economy and was one of the reasons behind the projections of the rate cut by the Fed. As a result, the USD weakened. However, this time the figures may lead to a different outcome.
• If the actual level of GDP growth is higher than the forecasts, the USD will go up;
• If the actual level of GDP growth is lower than the forecasts, the USD will go down
The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 17:00 MT time.
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!
The USA will publish unemployment claims on October 22 at 15:30 MT time. How to trade after the release?