The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
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
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The Federal Open Market Committee will make its statement and announce the interest rate on July 29, at 21:00 MT time.