Canadian GDP slated for Tuesday ahead of key US labor figures.
The Canadian Dollar (CAD) is broadly softer on Monday, slipping back against most of its major currency peers and holding flat against the US Dollar (USD) in tepid trading. The economic calendar is thin to kick off the trading week as the US Federal Reserve (Fed) and another US Nonfarm Payrolls (NFP) on Friday loom ahead later in the week.
Canada's latest monthly Gross Domestic Product (GDP) update is on Tuesday, but broader markets will be largely focused on the Fed’s upcoming rate call on Wednesday. US ADP Employment Change is also due Wednesday, and will serve as a preview (albeit a volatile one) to Friday’s US NFP jobs print.
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