UK quarterly GDP release is always an high impact report. With this being the Prelim release, or the first release of three, we are likely to see more market participation. Here is the forecast number:
4:30am (NY Time) UK GDP q/q Forecast 0.4% Previous 0.4%
ACTION: (GBP/USD) BUY 0.7% SELL 0.1%
4:30am (NY Time) UK GDP q/q Forecast 0.4% Previous -0.2%
ACTION: (GBP/USD) BUY 0.7% SELL 0.0%
We’ll be trading the much anticipated UK Prelim GDP q/q for Q4 2009. As we know, GDP is defined 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.” GDP is the basically direct measure of the economy’s health, and a stronger GDP means that the central bank will more likely to raise interest to curb inflation.
4:30am (NY Time) UK GDP q/q Forecast 0.2% Previous -0.6%
ACTION: (GBP/USD) BUY 0.4% SELL -0.1%
We’ll be trading the Prelim GDP q/q, which is defined 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.” GDP is the basically direct measure of the economy’s health, and a stronger GDP means that the central bank will more likely to raise to curb inflation.
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8:30am (NY Time) US Advance GDP q/q
Forecast 3.0% Previous 1.8%
ACTION: SELL ... (2176)
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