Australia GDP is a quarterly release similar to the U.S. Advanced GDP or the UK Pre-lim release, but usually there is only one release per quarter. Since this is a quarterly release, it is a high impact release that may change the short term trend of AUD. Here is the forecast:
9:30pm (NY Time) AU GDP q/q Forecast 0.6% Previous 0.9%
ACTION: AUD/USD BUY 0.9% SELL 0.3%
We’ll focus on GDP release this evening out of Australia, which is expected 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 0.9% or better, we’ll be BUYING AUD/USD; however, if we get a 0.3% or worse, we’ll probably see AUD/USD start to move downward. We’ll also look at the context of the market post RBA rate decision and market reaction to determine the direction for this trade. We could see either continued weakness or rebounding strength depending on the pre-market sentiment, and the idea is to trade only when both sentiments are aligned together. For instance, if post RBA rate decision market is negative for the AUD, then we’d be looking for a 0.3% of release to sell AUD for safe entries…
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:
- Australia GDP q/q 12/15/09
- Australia GDP q/q 03/02/2010
- Trading Plan For AU GDP q/q 08/31/10
- Australia GDP q/q 09/01/09
- Forex News Trading AU GDP q/q 09/06/11
- Forex News Trade AUD GDP q/q 05/31/11
- Forex News Trading Plan For AU GDP q/q 03/01/11
- UK Final GDP q/q 03/30/2010
- UK Revised GDP q/q 11/25/09
- UK Revised GDP q/q 02/26/2010
{ 1 comment… read it below or add one }
Hi henry,
How you doin?
I used your sentiment analysis for Australia GDP report, and I got over 90 pips!
unfortunately I executed my trade on a demo account.
but I found out that you were right !!
Thank you Henry