GDP CAD: Canadian retail sales are expected to decline for the second time in the third quarter after not falling in the first half of the year. The economy has lost its previous momentum. This Tuesday, Canada will report third quarter GDP. It is expected to halve from the 3.3 percent pace seen in the second quarter. This quarter is expected to continue to be weaker and this could lead to a weaker Canadian dollar.
BOE Gov Bailey Speaks GBP: As head of the central bank, which controls short term interest rates, he has more influence over the nation’s currency value than any other person. Traders scrutinize his speech, hoping to pick up subtleties to arrive at a favorable conclusion regarding the country’s future interest rates.
CB Consumer Confidence USD: The Consumer Confidence released by the Conference Board captures the level of confidence that individuals have in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Therefore, if this index is weaker than the forecasts and the previous rate, it will lead to the weakness of the US dollar, and if it is higher than the previous rate, it will cause the dollar currency to gain strength.
