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No big data release? No problem! Check out the catalysts that might affect the Canadian dollar this week.

Lower-tier data releases

  • Monthly GDP (Mar 31, 12:30 pm GMT) is expected to slow down from 0.3% to 0.1% in January
  • Manufacturing PMI (Apr 1, 1:30 pm GMT) could pop up from 51.8 to 53.3 in March
  • Trade balance (Apr 2, 12:30 pm GMT) is expected to show a 2.14B CAD deficit in February after lower motor vehicle sales (from the COVID outbreak) led to a deficit of 1.47B CAD in January

Crude oil prices

Market sentiment

  • Policymakers and markets’ reaction to rising COVID-19 numbers will continue to affect risk taking in the markets
  • Reports such as PMIs from the U.S., China, and the euro region as well as Uncle Sam’s NFP release can also affect demand for high-yielding bets like the comdolls

Technical snapshot

  • CAD has only gained pips against AUD in the last month
  • CAD has lost the most pips against CHF, EUR, and JPY in the last 30 days

  • CAD is still on bearish trends against CHF, JPY, EUR, and GBP
  • CAD is showing green shoots against AUD, NZD, and USD

  • CAD has seen the most volatility against JPY, AUD, and NZD in the last 30 days


Missed last week’s price action? Read CAD’s price recap for March 23 – 27!