Market Brief December 6th: BoC Interest Rate Decision

06 December, 2017 - 07:42AM


AUD 00:30 a.m. GMT, GDP (QoQ) (Q3) –we’re expecting Gross Domestic Product for Australia for the third quarter. This is a major catalyst and we could see price move significantly as a result of the news coming out depending on their nature.

Projections are for a slight decrease at 0.7% compared to 0.8% for the previous period. If the actual result is higher than expected, this should be seen as a bullish sign for the Aussie and vise versa- a lower than expected result should be read as a bearsih factor for the valuation of the currency.

United States

USD, 13:15 p.m. GMT, ADP Nonfarm Employment Change (Nov)- the report measures the monthly change in non-farm private employment. It is also oftentimes a predictor of the Non-farm payrolls number on Friday. For the month of November, expectations are for a decrease at 185K versus 235K for the previous month- an expected decrease of 50, 000 jobs. If the actual news event comes out better than expected, this could boost the dollar, while a worse off result could drive it down.


CAD, 15:00 p.m., Bank of Canada, Interest Rate Decision – the Canadian dollar will be impacted by the interest rate decision coming out. Traders need to be aware that levels of volatility will pick up causing movements in both directions. Market analysts expect no change in the rate and for it to remain at 1.00%. If there is a cut to the rate, this could send the Cad flying lower in price. Conversely, if the rate is increased this could cause the currency to appreciate.


USD 15:30 p.m. GMT, Crude Oil Inventories- projections are for -3.507M barrels for this week compared to -3.429 M barrels of change in inventories for the previous week. If supplies have been cut, this could push prices up. And, on the contrary, if the levels of output have increased this could bring down the price of the commodity.


Wishing you Happy and Successful Trading!


Risk Warning: The information above constitutes Marketing Communication and does not constitute Investment Advice or Investment Research. The content of the analysis represents the view of our experts on a generic basis, and do not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the analysis above has not been prepared in accordance with legal requirements designed to promote the independence of Investment Research. Readers using the above information should consider the possibility of encountering substantial losses. Therefore, UR Trade Fix Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the above analysis.”  Further to the above ,Forex Trading involves a substantial Risk of Loss and may not be suitable for all Investors. Please see our Website for details regarding UR Trade Fix Limited’s Trading Terms, Policies and Offerings.Read more.

The post Market Brief December 6th: BoC Interest Rate Decision appeared first on Tradeo Blog.