Market Focus

On Friday, 02.03.2018, it is worth paying attention to the data on Canada’s GDP. Gross Domestic Product (GDP) is a general indicator of economic activity and is a key indicator of the health of the economy.

According to the forecast, GDP grew by 0.2% in December, which is 0.4% lower than in the previous month. A significant component of the formation of Canada’s GDP is the sale of oil. Given the fact that in December oil prices maintained positive dynamics, the probability of Canada’s higher GDP growth remains. In case of data release within the forecast, the Canadian dollar will be under some pressure, against which one should expect the Canadian currency to fall within 30-40 points against its competitors.

Alexander Sivtsov