2:00am German Prelim GDP q/q Forecast 0.2% Previous 0.7%
5:00am EU Flash GDP q/q Forecast 0.4% Previous 0.4%
Action: N/A
We’ll be looking at both German Prelim GDP for the 4th Quarter 2009 GDP measurement. Since this is the first release of GDP for the quarter out of Germany, it is more likely to surprise the market than 2nd or 3rd releases. Since Germany and France are the two largest members of the European Union, their GDP releases makes up over 50% of the entire EU, therefore we’ll be looking at the market during their scheduled release time.
The EU Flash GDP q/q is also a quarterly first release, but it covers the entire Euro Zone as a whole. As all first quarterly GDP releases, it’s most likely to surprise the market.
With the current situation in Greece and the somewhat non-specific aid proposed by Germany and other European members, EUR is definitely likely to continue its bearish trend against USD; as a matter of fact, many analysts are now expecting to see EUR/USD around the 1.25~1.30 level by year end of 2010. This GDP release should either add to this bearisn sentiment or provide limited support temporarily, but the overall trend is still to SELL EUR/USD on any significant upward moves.
I’ll be looking at both releases, although they are not necessarily tradable, but definitely they are worth the attention.
Related posts:
- EU German ZEW Economic Sentiment 08/18/09
- UK 2nd Quarter Prelim GDP Analysis & Video 07/23/10
- Forex News Trading UK Prelim GDP 10/26/10
- Forex News Trading UK Prelim GDP q/q 01/25/11
- Forex News Trading UK Prelim GDP q/q 07/26/11
- Forex News Trading UK Prelim GDP q/q 04/27/11
- ECB Minimum Bid Rate Decision (Interest rate decision) 12/03/09
- Forex News Trading AU GDP q/q 09/06/11
- ECB Trichet Press Conference 12/03/09
- ECB Minimum Bid Rate Decision 11/05/09
{ 5 comments… read them below or add one }
@ eme: go to http://www.newsprofiteer.com/ all the info you need is there.
I am in Limbo now.
the eur/usd pair touched the 1.30 level and recovered towards to stay around the 1.35.
It seems its a standoff, the US troubles against the Euro-Zone troubles.
Still think the Euro will drop, as soon as the media starts to cover the mounting deficits of Portugal and Spain.
I don’t think we could ignore the fact that USD is a safe haven currency, so when EU is in trouble, USD is in demand. But when U.S. is in trouble, USD is also in demand. Fundamental outlook just doesn’t have much effect on the market, at least in the short term. Many aspects to fundamental analysis and not just comparing “troubles” but also other factors such as credibility, perception, and sentiment.
PLEASE HENRY AS A BEGINNER IN TRADING, I WANT TO JOIN YOUR MENTORING PROGAMME, IAM FROM NIGERIA, IS IT POSSIBLE? IF YES PLS, HOW?
Better to look in on the GDP of Greece, Spain and Portugal. Those are the ones that will hit like bomb.
Greece already in troubles, but SPain and Portugal are following very quickly.