Trading Strategy

What is it? Governor Poloz is due to speak the Canada Summit, in Toronto.

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 public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? December 3^rd at 5:30pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the CAD to rise.

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What is it? It checks the level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry.

It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

When? December 3^rd at 10:00am Eastern Time.

Trading Tip: If the number is higher than the forecast, you can expect the USD to rise.

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What is it? It checks the Interest rate at which major financial institutions borrow and lend overnight funds between themselves.

Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

When? December 3^rd at 10:00am Eastern Time.

Trading Tip: If the number is higher than the forecast, you can expect the CAD to rise.

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What is it? It's the primary tool the BOC uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.

When? December 3^rd at 10:00am Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the CAD to rise.

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What is it? It checks the estimated change in the number of employed people during the previous month, excluding the farming industry and government.

Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

When? December 3^rd at 8:15am Eastern Time.

Trading Tip: If the number is higher than the forecast, you can expect the USD to rise.

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What is it? Domestic government spending and borrowing levels can have a significant impact on the economy - increased spending generates work for contractors and creates jobs, while borrowing levels impact the nations credit rating and provide insight into the nation's underlying fiscal position.

When? December 3^rd at 7:30am Eastern Time.

Trading Tip: This announcement can greatly affect the GBP, make sure to follow it.

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4 Tips for Today's Trading - 02/12

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