by Henry Liu on October 30, 2009
Hi everyone,
I just wanted to say that with today’s unexpected turn of events from the U.S. GDP release, market has turned around from last 3 days of risk aversion concerns to an all out risk appetite and boosted gains of every major currency against the USD… This created a strong reversal on the GBP as it blew through several resistance points… and boy, did I ever hear about it from my subscribers! I spent almost half-day just replying emails to traders who just totally ignored the US GDP release and went short on Sterling. I got hate mails, critiques, and tons of emails from concerned subscribers, which I must say that I’m always happy to hear from…
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by Henry Liu on October 29, 2009
8:30am (NY Time) CA GDP m/m Forecast 0.1% Previous 0.0%
ACTION: USD/CAD SELL 0.4% BUY -0.2%
We’ll be focusing on the Canadian GDP month on month release, which is defined (from wikipedia) 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 has a strong effect on the cash rate of the CAD, as better economy affects BOC’s rate outlook and future monetary policy.
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by Henry Liu on July 30, 2009
8:30am CA GDP m/m Forecast -0.4% Previous -0.1%
ACTION: USD/CAD SELL 0.1% BUY -0.7%
Our focus will be on CA GDP, which is defined (from wikipedia) 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 number has a direct effect on the Interest rate of the currency, it is one of the news indicators that affects BOC’s decision directly.
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