19 Jan Key Canada Events for Jan 19 – 25, 2015

Key Events this Week for Canadian Dollar

This week our calendar events in Canada includes

• Interest-rate decision from the Bank of Canada
• Some economic indicators

Interest Rate Decision:

This week on Wednesday we will see Bank of Canada’s first 2015 interest rate decision. The main focus will be the effect of falling oil prices on the economy. Deputy Governor Tim Lane said that the lower oil prices are likely going to be bad for Canada as it’s a key Canada export. It is expected that the rate hike will be delayed into 2016, after the U.S. Federal Reserve’s move. Any unexpected decision from the Bank of Canada will have a direct affect on Canadian dollar exchange rates.

Economic Indicators and results on exchange rate:

Statistics Canada is scheduled to release economic indicators each day of the week. The main release is going to be on Friday which is December’s inflation report. Economists expect the a drop from November’s 2% due to the falling fuel costs.

On Friday we will also see the retail report for November. Markets are expecting a 0.1% drop.

On Tuesday we will see November’s factory shipments report. It is expected for a 0.5% drop in the numbers month over month.

Any economic data that comes out this week that is above or below the expected amount will affect the Canadian dollar accordingly.