Expectations for the upcoming week
There are three major events this week: the publication of the Bank of Canada protocol, the ECB interest rates decision and the publication of preliminary data on US GDP.
On Wednesday, the Bank of Canada meeting minutes will be published. It will have a significant impact on the Canadian currency after weak inflation data in Canada. At the same time, the rhetoric of the Central Bank of Canada is likely to be restrained in the light of the latest inflation data in Canada. It will limit the Canadian dollar ultimately before the publication of the Bank of Canada protocol.
On Thursday, an interest rates decision of the ECB will be published, which will keep monetary policy unchanged. At the same time, the market will expect hints of tightening monetary policy in the eurozone in the future, despite the increased risks from Italy and Brexit.
On Friday, the week will close the preliminary data on the US GDP in quarterly terms, which are the main indicator of US GDP growth. After the rapid growth earlier, this indicator will obviously decrease, but at the same time the expectations regarding this statistics remain positive. (Anton Hanzenko)
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