Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
Will the CAD rise on positive Ivey PMI?
Ivey PMI will be announced at 17:00 MT time on January 7.
175 purchasing managers selected geographically across Canada report their business activity each month to Ivey Business School. Ivey PMI is calculated based on these numbers. As businesses react quickly to the changes in market environment and financial outlooks, this indicator is a central tool to assess Canada’s economic health. A resulting value below 50 generally means economic contraction, which was the case in September and October. The November value, which was released on December 5, was 60. That was higher than market expectations and signaled an economic upswing. If a similar scenario takes place on January 7, the CAD may grow.
- If the indicator exceeds the market expectation, the CAD will gain strength.
- If the indicator underperforms, the CAD will fall.
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
Canadian monthly GDP growth rate is announced on Tuesday at 15:30 MT time.
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.