Canada GDP m/m 03/01/2010

8:30am NY Time Canada GDP m/m   Forecast 0.4%      Previous 0.4%
ACTION: USD/CAD         BUY 0.1%     SELL 0.7%

We’ll be focusing on a possible trade from the Canadian GDP release (m/m) today, and GDP is defined (by wikipedia) as:

“the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time.” 

As GDP is basically the measurement of the “economy” as a whole and it certainly has a tremendous impact on the cash rate of the CAD which is scheduled tomorrow, therefore the speculation will reach a new level should we get a strong GDP prompting for possible concerns over BOC’s decision.

We’ll be looking to BUY USD/CAD should be get a lower release of 0.1%, and SELL USD/CAD should we get a 0.7%… at 1.0% or above, we could see CAD strengthen across the board and speculations for a surprise rate hike should be on the minds of some traders.

Related posts:

1. Canada GDP (Gross Domestic Product) m/m 10/30/09
2. Canada GDP m/m 11/30/09
3. Canada GDP m/m 08/31/09
4. UK Final GDP q/q 03/30/2010
5. UK Revised GDP q/q 02/26/2010
6. Canada GDP m/m (Gross Domestic Product) 09/30/09
7. UK Revised GDP q/q 11/25/09
8. Australia GDP q/q 03/02/2010
9. UK Revised GDP q/q 05/25/10
10. Australia GDP q/q 12/15/09

Tagged as: Bearish Trend, CAD, Canada Gdp, Canadian Dollar, Canadian Gdp, Consumer Spending, economy, Fundamental News, fundamental outlook, GDP, Gross Domestic Product, Inflation, Interest rate, monetary policy, month on month, news event, Ny Time, Time Canada