4:30am (NY Time) UK Revised GDP q/q Forecast -0.3% Previous -0.4%
ACTION: GBP/USD BUY 0.0% SELL -0.6%
We’ll be trading the Revised GDP q/q from UK, which is also known as the second quarterly GDP release; GDP is defined as “the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time.” GDP is the basically direct measure of the economy’s health, and a stronger GDP means that the central bank will more likely raise interest rate to curb inflation.
Since this is the second release of the 3rd quarter GDP, we’re not likely to get any surprise number with this release. However, according to BOE Governor King’s recent testimony in front of Parliament, we could get an upward revision to the negative first GDP release. If we are able to get a positive release, this would be extremely bullish for GBP as it will show U.K.’s economy could be on the way out of technical recession by the end of 2009…
Our surprise factor is 0.3% as we’ll look to possibly SELL GBP/USD at -0.6% or worse and BUY GBP/USD at 0.0% or better. Historically, there is a 80% of chance if our S. Factor is hit, the market will move up to 50~70 pips within the hour.
Related posts:
- UK Revised GDP q/q 05/25/10
- Forex News Trading UK Revised GDP q/q 11/24/10
- UK Revised GDP q/q 02/26/2010
- Forex Trading Plan For UK Revised GDP q/q 08/27/10
- Forex News Trading UK Revised GDP q/q 02/25/11
- Forex News Trading UK Revised GDP q/q 5/25/11
- Forex News Trading UK Revised GDP 08/26/11
- UK Final GDP q/q 03/30/2010
- Forex News Trading UK Prelim GDP q/q 04/27/11
- Forex News Trading UK Prelim GDP q/q 07/26/11
