Forex News
UK Prelim GDP 4/25/12
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:
4:30am (NY Time) UK Revised GDP q/q Forecast 0.1% Previous -0.3%
ACTION: GBP/USD BUY 0.4% SELL -0.2%
Definition
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.
The Trade Plan
Our deviation for today’s trade is 0.3% to SELL and 0.3% to BUY. We’ll look to possibly SELL GBP/USD at -0.2% of release figure or worse; BUY GBP/USD at 0.4% of release figure or better. Depending on the surprise of this release, we could go from after news retracement trade to spike trading. I believe if we get a 0.6% or better release, it justifies spiking trading to buy GBPUSD immediately. If we get -0.5% or worse, then it is also justified to SELL GBPUSD on a spike trade.
BOOKS BESTSELLER FOREX
Sentiment in the Forex Market: Indicators and Strategies to Profit from Crowd Behavior and Market Extremes (Wiley Trading) - Jamie Saettele - EUR 45,91
4:30am (NY Time) UK Revised GDP q/q Forecast 0.1% Previous -0.3%
ACTION: GBP/USD BUY 0.4% SELL -0.2%
Definition
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.
The Trade Plan
Our deviation for today’s trade is 0.3% to SELL and 0.3% to BUY. We’ll look to possibly SELL GBP/USD at -0.2% of release figure or worse; BUY GBP/USD at 0.4% of release figure or better. Depending on the surprise of this release, we could go from after news retracement trade to spike trading. I believe if we get a 0.6% or better release, it justifies spiking trading to buy GBPUSD immediately. If we get -0.5% or worse, then it is also justified to SELL GBPUSD on a spike trade.
BOOKS BESTSELLER FOREX
Sentiment in the Forex Market: Indicators and Strategies to Profit from Crowd Behavior and Market Extremes (Wiley Trading) - Jamie Saettele - EUR 45,91
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