We’ll be getting both GDP release from Canada and U.S. I would be more interested in the U.S. release as it is the Adv. GDP quarterly release and it has more potential of moving the market than the Canada GDP m/m release… It is important that you only concentrate on one of these releases instead of both, as the market will be very tough to read with one release, let along 2 releases together.
Here is the forecast for Canada GDP
8:30am NY Time Canada GDP m/m Forecast 0.5% Previous 0.6%
ACTION: USD/CAD BUY 0.2% SELL 0.8%
We’ll be trading 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.”
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.”
8:30am NY Time Canada GDP m/m Forecast 0.3% Previous 0.2%
ACTION: USD/CAD BUY 0.0% SELL 0.6%
8:30am NY Time Canada GDP m/m Forecast 0.4% Previous -0.1%
ACTION: USD/CAD BUY 0.1% SELL 0.7%
Today we’ll be trading the Canadian GDP month on month release, which is defined (from 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 strong impact on the cash rate of the CAD, it’ll be a highly anticipated news event.
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Forecast 3.0% Previous 1.8%
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