Canada’s monthly GDP report is the marquee event of the session, scheduled for release on 28 August at 12:30 UTC. As a high-impact reading on the health of the Canadian economy, it draws close attention across the CAD complex.
What the Canada GDP m/m release measures
Gross Domestic Product measures the change in the total value of goods and services produced across the economy. The monthly figure is one of the most timely broad gauges of Canadian growth, which is why markets track it closely.
The consensus forecast points to a 0.2% expansion, following a 0.3% reading in the prior period. Because the number feeds directly into expectations for the domestic growth trajectory, it is a data point that traders watch for signs of momentum shifting.
How the CAD pairs are trading
Ahead of the release, the loonie shows mixed movement across the majors. CADJPY is the biggest mover on our feed, trading at 115.01, up 0.2% on the day.
On the crosses, GBPCAD sits at 1.88264, down 0.18%, while EURCAD trades at 1.61403, off 0.17%. USDCAD is at 1.38529, lower by 0.15%.
Elsewhere, CADCHF trades at 0.57961, down 0.10%, and NZDCAD is at 0.82436, easing 0.07%. These levels reflect current trading and are not a forecast of the outcome.
The GDP print is watched as a read on the pace of Canadian economic activity and how it compares with the prior month.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
