8:30am NY Time Canada GDP m/m Forecast 0.5% Previous 0.6%
ACTION: USD/CAD BUY 0.2% SELL 0.8%
We’ll be trading the Canadian GDP release (m/m) today, and GDP is defined (by wikipedia) 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.”
As GDP is basically the measurement of the “economy” as a whole and it certainly has a tremendous impact on the official interest rate as better GDP equals to higher inflation, and higher inflation means higher interest rate. With this week’s risk appetite driven market, a better than expected release has the potential of pushing USD/CAD to parity, therefore use extra caution when going against the bearish USD/CAD trend.
We’ll be looking to BUY USD/CAD should be get a lower release of 0.2%, and SELL USD/CAD should we get a 0.8%…
Related posts:
- Canada GDP (Gross Domestic Product) m/m 10/30/09
- Canada GDP m/m 11/30/09
- Canada GDP m/m 08/31/09
- Canada GDP m/m (Gross Domestic Product) 09/30/09
- UK Revised GDP q/q 11/25/09
- UK Final GDP q/q 03/30/2010
- UK Revised GDP q/q 02/26/2010
- UK Revised GDP q/q 05/25/10
- Forex News Trading UK Revised GDP q/q 11/24/10
- Forex Trading Plan For UK Revised GDP q/q 08/27/10
{ 2 comments… read them below or add one }
thnx henry for ur forex news alerts and insights. How the revision rate effect the actual rate of a news release and where can we c the revision rate of any news release. Plz reply.. thnx
revision could affect the market if it is substantial, especially when it is in conflict with the actual release. As with any news, if it makes enough of a surprise, expect market to react, and that includes revision of a previous release.
YOu can get revision from the same news wire service that you get the actual releases. They are usually released at the same time via text or audio.