The Bank of Canada will publish a rate statement and an update on the interest rate on September 9, at 17:00 MT time.
Will the CAD rise?
Bank of Canada announces its interest rate and gives a press conference on Wednesday at 17:00 MT time.
Instruments to trade: USD/CAD, EUR/CAD, AUD/CAD, CAD/JPY
During March, the Bank of Canada gradually reduced the interest rate from 1.75%, where it’s been since the end of 2018, to the current level of 0.25%. Monetary policymakers expressed their commitment to respond to the economic environment as required. That means, although emergency moves have been already taken, there may be more. Also, as the oil industry is the base factor for the country’s prosperity, the status of the oil price war will be taken into account by the Canadian financial authorities. If the outlook will be even moderately positive, it will boost the CAD.
- If the Bank of Canada is hawkish, CAD will rise.
- If the Bank of Canada is dovish, CAD will fall.
Canada will announce the Canadian retail sales and core retail sales on August 21, at 15:30 MT time
The United States will release unemployment claims on August 20, at 15:30 MT time.
Long time we haven't checked the S&P 500 stocks - there are interesting events and trends to follow.
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
The European Central Bank will publish a monetary policy statement and release the main refinancing rate at 14:45 on September 10.