Forex News | Forex News Trading | Currency Trading News Video Blog

We’ll be receiving GDP release from Canada today. Here’s the forecast:

8:30am NY Time Canada GDP m/m Forecast 0.2% Previous 0.1%
ACTION: USD/CAD BUY -0.1% SELL 0.5%

The Trade Plan
I’ll be looking to BUY USD/CAD if we get a -0.1% or lower release, and SELL USD/CAD if we get a 0.5% or higher… With recent strength risk aversion sentiment driven market and stock market tumbling, a stronger GDP should provide some support for the CAD and I’ll be looking for a Retracement Trade Method for this release.

We’ll be receiving GDP release from Canada today along with US Adv. GDP q/q, I’d suggest to concentrate on the U.S. release first, if there is no trading opportunity there, then come back and look at the Canadian release. Here’s the forecast:

8:30am NY Time Canada GDP m/m Forecast 0.1% Previous 0.0%
ACTION: USD/CAD BUY -0.2% SELL 0.4%

We’ll be receiving GDP release from Canada today,  and with BOC already starting its rate tightening policy, we could expect the currency market to pay attention to this release as a stronger GDP should definitely add more expectation for BOC to keep hiking rates…  Here is the forecast for Canada GDP:

8:30am NY Time Canada GDP m/m   Forecast 0.2%      Previous 0.6%
ACTION: USD/CAD         BUY -0.1%     SELL 0.5%

We’ll be getting GDP release from Canada today, and with BOC scheduled to hike interest rate tomorrow (Tuesday), we could expect the currency market to pay attention to this release as a stronger GDP should definitely support BOC’s rate tightening policy.  Here is the forecast for Canada GDP:

8:30am NY Time Canada GDP m/m   Forecast 0.5%      Previous 0.3%
ACTION: USD/CAD         BUY 0.2%     SELL 0.8%