Heads Up – Canadian GDP is due in 30 mins – Quick Trade Plan for USD/CAD
The USD/CAD is trading in a narrow trading range of $1.3009 - $1.3020. The GDP growth rate of 0.3% or above is likely to cause a bearish...
Arslan Butt•Friday, September 28, 2018•1 min read

What’s up, traders.
As discussed in FX Leaders Set 28 – Economic Event’s Report, the Canadian GDP is due at 12:30 (GMT). Economists expectation is 0.1% up from 0.0%. The USD/CAD is trading sideways ahead of the news. Read on for a quick trade plan…
How to trade Canadian GDP news?
The USD/CAD is trading in a narrow trading range of $1.3009 – $1.3020. A GDP growth rate of 0.3% or above is likely to cause a bearish breakout and the direct currency pair can dip towards $1.2970.
In contrast, worse than expected GDP of 0.0% or -0.1% is likely to weaken the currency and the USD/CAD can breakout on the upper side. The inital target is likely to be $1.3045. So buckle up, as it looks like a good time to trade the breakout. Good luck!
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ABOUT THE AUTHOR
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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