Market Focus

On Friday, December 1, 2017, 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 0.1% in September, which is higher than the value of the previous month at the level of -0.1%. A significant component of the formation of Canada’s GDP is the sale of oil. Given the fact that in September oil prices remained positive, the likelihood of a higher value of Canada’s GDP growth remains. In case of data release within the forecast, the Canadian dollar will receive some support and one should expect the Canadian currency to grow within 30-40 points against its competitors.

Alexander Sivtsov