9:30pm (NY Time) AU GDP q/q Forecast 0.6% Previous 0.4%
ACTION: AUD/USD BUY 0.8% SELL 0.3%
We’ll be trading the quarterly GDP number out of Australia, which is expected to be the second quarterly positive release as the consensus expectation is at 0.6%. As a technical recession is defined as two consecutive quarters of negative GDP, a two consecutive quarters release of positive GDP certainly implies recovery. This should add to the already highly demanded AUD and boost risk appetite sentiment should we get a 0.8% release.
However, as long as this release remains positive, market will probably not sell off AUD much regardless… The only sentiment we need to be aware of is the RBA rate decision earlier today as the market may still be highly driven by the after effects of that event.
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.
[flv:http://www.newsprofiteer.com/090109-audgdp/090109-audgdp.mp4 480 360]
UPDATE: We got a better than expected release but didn’t see corresponding market reaction. In other words, no momentum or follow through for a much better than expectation release. Therefore I decided to stay out of the market as this release was against the risk aversion trend.
Related posts:
- Australia GDP q/q 12/15/09
- Australia GDP q/q 03/02/2010
- Trading Tips For Australia GDP q/q 06/01/10
- Trading Plan For AU GDP q/q 08/31/10
- Forex News Trade AUD GDP q/q 05/31/11
- Forex News Trading AU GDP q/q 09/06/11
- Forex News Trading Plan For AU GDP q/q 03/01/11
- Forex News Trading Australia RBA Interest Rate Decision 12/06/10
- Forex News Trading UK Prelim GDP 10/26/10
- UK Revised GDP q/q 05/25/10
{ 3 comments… read them below or add one }
hi henry,thanks 4 the alerts on my mail.am so happy i got it earlier this morn atleast i was able to take reasonable steps.it actually helped me.normally with my old system i would have jump into buying of USDJPY without any further research at i didnt run loss on the high impact news that never made a reasonable move in trend.thanks.am expecting more from u….
ken
Hello Henry.
I have sent the video and some time before i have sent some answers to some questions and i have never received the trick link or the other bonus you say you will send to us.
COuld you check please?
I would like to have you trick link.
my email is camilotorrescruz@gmail.com
Camilo please contact kc [at] newsprofiteer dot com, he will be able to take care of that for you.