8:30am CA GDP m/m Forecast -0.4% Previous -0.1%
ACTION: USD/CAD SELL 0.1% BUY -0.7%
Our focus will be on CA GDP, 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.” GDP number has a direct effect on the Interest rate of the currency, it is one of the news indicators that affects BOC’s decision directly.
