8:30am NY Time UK Annual Budget Release
ACTION: N/A
We’ll be getting the Annual Budget Release from UK today, and this release covers UK government’s budget for the year, including figures such as spending, income, borrowing levels, financial objectives, and investment plans. Because of the potential surprise from this release, we could see Sterling react with extreme volatility. Budget release also affects future monetary policy direction, therefore it is going to be a widely watched event.
Trading this news event is similar to trading Central Banker’s speeches; we’ll wait and see how the market reacts, then we’ll follow. Usually if we get a strong surprise, either to the upside or downside, it should be profound and we’d probably have plenty of opportunity to get in. Unless we see a strong movement after the release, we should stay out of the market as the third possibility is that traders could ignore the numbers.
Related posts:
- Trading Plan For UK Retail Sales 06/17/10
- Forex News Trading Plan For UK Retail Sales m/m 11/18/10
- UK Revised GDP q/q 02/26/2010
- Forex Analysis For UK Retail Sales 07/21/11
- Forex News Trading UK Retail Sales 12/16/10
- UK Final GDP q/q 03/30/2010
- Forex Trade Plan & Video For UK Retail Sales 07/22/10
- UK Retail Sales 03/25/2010
- UK Retail Sales m/m 02/19/2010
- Forex Trading Plans For UK Retail Sales m/m 09/16/10
{ 4 comments… read them below or add one }
ok, but what you mean “sharply” and “hardly”?
what’s the difference?
Jonie:
Don’t mean to sound mean, but you need to brush up on your English, Sharply means fast moving, and hardly means no movement. (Please don’t ask me what is “brush up” )
Could you explain your draft plan more?
From one side you are said “how the market reacts, then we’ll follow”, but from other side “Unless we see a strong movement after the release, we should stay out”.
Jonie I thought that’s pretty self-explanatory. If the market is moving sharply, we will follow. If the market is hardly moving, we will stay out.
Henry