TRADING ON THE CANADIAN
Dear traders,
Today, at 15:30 (Kiev) – there will be a series of data on Canada, including the Change in Employment and GDP.
The change in employment measures changes in the number of employed in Canada for the indicated month.
The growth trend shows strength in the labor market and has a positive impact on consumer spending and, consequently, on economic growth.
Indicators higher than expected, are considered as the bullish direction of CAD, and indicators below the expected indicate a bear market for CAD.
As for the GDP data, A. Sivtsov, the leading analyst of ESTER, writes:
“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. “
Use the opportunity to earn today!
Have a good weekend!
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