On December the 3rd Canada reported a 6% unemployment rate, while the expectations were at a 6.6% level. Less than expected unemployment rate is always hawkish news for the national currency.
Trading plan for March 6
- The CAD traders need to pay attention to the rate statement by the Bank of Canada at 17:00 MT. The bank is expected to keep its rate on hold, but it may provide hints on the future changes to the monetary policy.
- Later, at 17:30 MT time we will see the release of the crude oil data. Analysts forecast an increase of 1.2 million barrels. If the level is higher, the oil prices will slump.
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