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UK quarterly GDP release is always a high impact report. However, with this being the Revised release, or the second release of three, we are likely to see less market volatility. Here is the forecast number:
4:30am (NY Time) UK Revised GDP q/q Forecast 0.5% Previous 0.5%
ACTION: GBP/USD BUY 0.7% SELL 0.3%
UK quarterly GDP release is always a 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:
5:30am (NY Time) UK Revised GDP q/q Forecast 0.4% Previous 0.1%
ACTION: GBP/USD BUY 0.7% SELL 0.1%
RBA (Reserve Bank of Australia) is expected to keep borrowing costs unchanged at 4.75%, as per general market consensus…
Here´s the forecast for this news release:
11:30pm (NY Time) AU RBA Rate Decision Forecast 4.75% Previous 4.75%
ACTION: AUD/USD SELL 4.50%
The Trade Plan
If RBA decides to keep rates unchanged, we may still see some volatility as the accompanied RBA statement may be market moving in light of recent event; however, if RBA cuts rates, we should jump in and SELL AUDUSD immediately as the market will be in a shock and start dumping the Aussie.
RBA (Reserve Bank of Australia) is expected to keep borrowing costs unchanged at 4.75%, as per the wide market consensus…
Here´s the forecast for this news release:
11:30pm (NY Time) AU RBA Rate Decision Forecast 4.75% Previous 4.75%
ACTION: AUD/USD BUY 5.00% / SELL 4.50%
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 1.0% Previous -1.2%
ACTION: AUD/USD BUY 1.3% SELL 0.5%
RBA (Reserve Bank of Australia) is expected to keep borrowing costs unchanged at 4.75%, as per the wide market consensus…
Here´s the forecast for this news release:
12:30am (NY Time) AU RBA Rate Decision Forecast 4.75% Previous 4.75%
ACTION: AUD/USD BUY 5.00% / SELL 4.50%
Revised GDP q/q, or better known as the 2nd quarterly GDP release, is going to be the focus for today. Here is the forecast:
4:30am (NY Time) UK Revised GDP q/q Forecast 0.2% Previous 0.2%
ACTION: GBP/USD BUY 0.5% SELL -0.1%
The Trade Plan
Since this is the second release of the 2nd quarterly GDP, we´re not likely to get a huge surprise as most 2nd releases are pretty much inline. However, judging from the expected release of 0.2% and previous release of 0.2% (Prelim GDP), we may not get a surprise release after all.
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