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US Prelim GDP is also known as the 2nd Quarterly GDP release. Since GDP is the measurement of the economy, traders pay more attention to this release as any surprise numbers could change the short term trend… Here is the forecast:
8:30am NY Time US Prelim GDP q/q Forecast 3.5% Previous 3.2%
ACTION: USD/JPY BUY 3.8% SELL 3.2%
We are also getting the Canadian monthly GDP release at the same time of this release, therefore I’d recommend to stay out of USD/CAD unless you are planning to trade both news together and they happen to have a conflict…
Here’s the forecast for U.S. Adv. GDP:
8:30am (NY Time) US ADV GDP q/q Forecast 3.4% Previous 5.6%
ACTION: USD/JPY USD/CHF BUY 3.7% SELL 3.1%
8:30am NY Time US Prelim GDP q/q Forecast 5.6% Previous 5.7%
ACTION: USD/JPY BUY 5.9% SELL 5.3%
We’ll be trading the 4th (Q4 2009) quarterly release of U.S. GDP number. The first release, or the Advanced GDP release last month, came out surprising upwards at 5.7% and we’ll probably not see much volatility in the market on this second release as more usually during the 2nd release more data have become available thus less possibilities of surprise. The important fact is to consider the context of the market at the time of the news release, remember market have priced in this release already.
8:30am NY Time US Prelim GDP q/q Forecast 2.9% Previous 3.5%
ACTION: USD/JPY BUY 3.2% SELL 2.6%
Our focus tomorrow will be on the second quarterly release of U.S. GDP numbers. The first release, or the Advanced GDP release last month, came out surprising upwards; however, the surprise of 3.5% was largely made up by the uptick in Motor Vehicle components, which added 1.66% to the GDP number. Therefore, the actual GDP release should’ve missed consensus expectation if it wasn’t for the “Cash for Clunkers” program sponsored by the government.
If you’ve got a few minutes, I’ve recorded a new video on “My
Blueprint to Forex Success” just for you…
But I must warn you, it’s not about how to pick winning trades or
any of that exciting stuff…
…and as a matter of fact, this video could be considered a little
boring by some… But it deals with the cold hard logic of a
successful Forex career, and it’s something that you can’t do
without if you EVER want to be successful in this business…
Sometimes your timing may be off, and your entry not so great, but if you picked the “right” currency pair to trade, you’ll still end up making pips…
You may ask: “Henry, how do I know which pair is the ‘right’ pair?”, and the answer is, my friend, quite simple: Newsprofiteer Meter.
I just posted a video for you on a special trick in Forex News
Trading that made me tons of money during the spike trading days,
although you can’t really spike trade anymore, this trick still
works great for news trading and just normal Forex trading…
And of course, if you have a broker that currently allows you to
spike trade, you’re going to LOVE me for showing you this neat
little trick…
7:45am (NY Time) EU ECB Rate Decision Forecast 1.00% Previous 1.00% ACTION: EUR/USD N/A ECB (European Central Bank) is likely to once again leave its minimum bid rate at 1.00% or … [Read More...]
7:45am (NY Time) EU ECB Rate Decision Forecast 1.00% Previous 1.00% ACTION: EUR/USD N/A ECB (European Central Bank) will probably leave rates at an unchanged level of 1.00%. It is … [Read More...]
8:30am NY Time Core Retail Sales Forecast 0.5% Previous 0.5% ACTION: USD/CAD BUY -0.1% SELL 1.1% We’ll be focusing on the Canadian Core Retail Sales release … [Read More...]
8:30am (NY Time) US Durable Goods Orders Forecast 0.1% Previous 1.1% ACTION: USD/JPY BUY … [Read More...]
[flv:http://www.newsprofiteer.com/100109-usismpmi/100109-usismpmi.mp4 480 360] 10:00am (NY Time) US ISM Manufacturing PMI Forecast 53.9 Previous 52.9 ACTION: USD/JPY … [Read More...]
7:00am NY Time CA Employment Changes Forecast 15K Previous -43.2K ACTION: USD/CAD SELL 45K BUY -15K We'll focus on the Canadian Employment Changes event, which … [Read More...]
8:30am (NY Time) US NFP Forecast -110K Previous 431K Unemployment Rate Forecast 9.8% Previous 9.7% ACTION: USD/JPY … [Read More...]
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