Australia GDP q/q 03/02/2010

7:30pm (NY Time) AU GDP q/q     Forecast 0.9%    Previous 0.2%
ACTION: AUD/USD      BUY 1.2%        SELL 0.6%

We’ll be looking for a trading opportunity from the quarterly GDP release today out of Australia, which is expected by analysts expectation from Bloomberg to be at 0.9%.  As Australia’s GDP number has maintained on the positive side for the last couple of quarters, this release number will probably not have a trend changing impact on the AUD unless it’s a negative number or flat (0.0%) release.

We’ll be looking for a devation of 0.3% or more, therefore if we get 1.2% or better, we’ll be BUYING AUD/USD; however, if we get a 0.6% or worse, we’ll probably see AUD/USD start to move downward.  We’ll also look at the context of the market post RBA decision yesterday, as we may very well see a strong trend carry over to today.

DEFINITION:

“GDP is 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.”  In short, if you were to reduce the entire economy into a simple number, it would be the GDP.”

Related posts:

1. Australia GDP q/q 12/15/09
2. Trading Tips For Australia GDP q/q 06/01/10
3. Trading Plan For AU GDP q/q 08/31/10
4. Australia GDP q/q 09/01/09
5. Forex News Trade AUD GDP q/q 05/31/11
6. Forex News Trading AU GDP q/q 09/06/11
7. Forex News Trading Plan For AU GDP q/q 03/01/11
8. UK Final GDP q/q 03/30/2010
9. UK Revised GDP q/q 02/26/2010
10. UK Revised GDP q/q 11/25/09

Tagged as: AUD, aussie economy, Australia, Australia News, Australian economic outlook, economic indicator, economy, GDP, Gross Domestic Product, quarterly gdp, recession, risk appetite, risk aversion, sentiment