This week we get to grips with GDP for three major economies – Canada, New Zealand and the United States as traders set up their positions for the holiday season. Gross Domestic Product is a popular snapshot into the economy as it measures the change in the value of all goods and services adjusted by inflation.
Canada’s economy is either rebounding or back to Earth depending on which pundits you prefer. What they mean is it is anybody’s guess at this point. CAD is an interesting currency to trade and the uncertainty could give you plenty of opportunities to cash in. The forecast on Friday 22nd at 1.30pm GMT is for 0.2% to stay the same.
New Zealand seems to have a more positive consensus in analysts circles with views that its economy is on the up. But, in contrast, GDP growth may apparently slow. This month’s GDP news on Wednesday 20th at 9.45pm GMT is forecast to contract to 0.6% from 0.8%.
The U.S. releases its quarterly Final GDP data on Thursday 21st at 1.30pm GMT and it’s looking strong. If it reaches predictions of 3.3% it will almost be back at its December 2016 peak.