Canada's Gross Domestic Product (GDP) data for the second quarter of 2019 and June 2019 (High impact on CAD).
GDP shows the total value of goods and services produced by a country in a certain time period, and is considered as a measure of a country's economic growth. Unlike other major currencies that only release GDP data quarterly, Canada also releases GDP monthly and is relatively late. However, the impact on currency movements is quite high, especially the month-over-month (m / m) GDP data which shows the comparison of this month's data with the previous month's data.
30 August 2019: Canadian GDP, CPI
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The first quarter ago, Canadian GDP grew 0.1%, lower than forecast to grow 0.5%, and the same as the previous quarter (the lowest since the second quarter of 2016). In the first quarter of 2019, consumer spending rose 0.9%, while exports contracted 1.0%. Meanwhile, GDP in May 2019 increased by 0.2%, higher than forecast to rise 0.1%, but the lowest in the last 3 months.
GDP in the second quarter of 2019 is expected to increase by 0.4%, while GDP in June 2019 is expected to increase by 0.1%. Results released higher than expected will tend to cause CAD to strengthen.
At 20:45 WIB: US Chicago PMI index in August 2019 (medium impact on the USD).
The indicator, also called the Chicago Business Barometer, is based on a survey of 200 purchasing managers in industrial areas around Chicago, including the states of Illinois, ******a and Michigan. Respondents were asked to respond to current US economic and business conditions, especially those concerning labor, production, prices, and product sales. This index is often considered an early indicator for the ISM Manufacturing PMI. An index number above 50.0 indicates expansion, while below 50.0 indicates contraction.
Last July, the Chicago PMI index stood at 44.4, lower than the estimated 51.7, and the lowest since December 2015. In July 2019, the new orders index, production output, and labor experienced contraction. For August 2019, the index is expected to rise to 48.1. Results released higher than expected will tend to support the strengthening of the USD.
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