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We’ll be receiving GDP release from Canada today along with US Adv. GDP q/q, I’d suggest to concentrate on the U.S. release first, if there is no trading opportunity there, then come back and look at the Canadian release. Here’s the forecast:
8:30am NY Time Canada GDP m/m Forecast 0.1% Previous 0.0%
ACTION: USD/CAD BUY -0.2% SELL 0.4%
We are also getting the Canadian monthly GDP release at the same time of this release, therefore I’d recommend to either trade the U.S. release or concentrate on the Canadian release, do not try to trade both of them together… Here’s the forecast for U.S. Adv. GDP:
8:30am (NY Time) US ADV GDP q/q Forecast 2.5% Previous 2.7%
ACTION: USD/JPY BUY 2.8% SELL 2.2%
We’ll be receiving GDP release from Canada today, and with BOC already starting its rate tightening policy, we could expect the currency market to pay attention to this release as a stronger GDP should definitely add more expectation for BOC to keep hiking rates… Here is the forecast for Canada GDP:
8:30am NY Time Canada GDP m/m Forecast 0.2% Previous 0.6%
ACTION: USD/CAD BUY -0.1% SELL 0.5%
6:45pm (NY Time) NZ GDP q/q Forecast 0.5% Previous 0.8%
ACTION: NZD/USD BUY 0.8% SELL 0.2%
New Zealand GDP is a high impact news release scheduled on a quarterly basis… The expected consensus number is 0.5%, therefore if we get a 0.3% of deviation, we should see market move 40 pips within the hour. NZD has been benefitting from the recent risk appetite sentiment as the result of China’s announcement of ending its peg with USD, and the fact that RBNZ has started its rate tightening cycle. If we get a positive reading on the GDP number, expect NZD/USD to rise and retest recent resistance levels; if the GDP remains heavily to the downside, a decent retracement should be expected of NZD and 0.6800 should provide strong support.
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 be getting GDP release from Canada today, and with BOC scheduled to hike interest rate tomorrow (Tuesday), we could expect the currency market to pay attention to this release as a stronger GDP should definitely support BOC’s rate tightening policy. Here is the forecast for Canada GDP:
8:30am NY Time Canada GDP m/m Forecast 0.5% Previous 0.3%
ACTION: USD/CAD BUY 0.2% SELL 0.8%
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) USA Trade Balance BUY USD/JPY -14.4B SELL USD/JPY -35.4B 8:30am (NY TIme) CAD Trade Balance SELL EUR/CAD 0.1B BUY EUR/CAD -1.3B Again we have both trade … [Read More...]
4:30am (NY Time) UK CPI y/y Forecast 1.8% Previous 1.5% ACTION: GBP/USD BUY 2.1% SELL 1.5% Today we’ll focus on the CPI release once again out of UK and … [Read More...]
With the first time Home Buyer’s Credit ended in April, this release is likely to show a significant decline... Here is the forecast: 10:00am NY Time New Home Sales Forecast 424K … [Read More...]
We'll be trading the UK Services Purchasing Manager Index today at 4:30am (NY Time). This is a leading indicator similar to the Manufacturing PMI that was released earlier this week, here's the forecast: 4:30am … [Read More...]
[flv:http://www.newsprofiteer.com/060409-boemarketcycle/060409-boemarketcycle.mp4 480 360] … [Read More...]
[flv:http://www.newsprofiteer.com/101409-nzdcpi/101409-nzdcpi.mp4 480 360] 5:45pm (NY Time) NZ CPI q/q Forecast 0.8% Previous 0.6% ACTION: NZD/USD BUY 1.1% SELL 0.5% Our … [Read More...]
8:30am (NY Time) CA Core Retail Sales m/m Forecast 0.5% Previous-0.8% ACTION: USD/CAD BUY -0.1% SELL 1.1% We'll trade the Core Retail Sales release … [Read More...]
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