The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
How to trade pound after UK GDP?
The UK will report its GDP on February 12 at 9:00 MT time. Let’s get ready for this release.
What will happen?
The gross domestic product indicator (GDP) is the broadest measure of economic activity and the primary gauge of the economy's health. There are 2 types of GDP releases: preliminary and final. A preliminary report is the earliest and thus tends to have the most impact. This Friday, the UK will publish preliminary GDP. UK GDP rose by 16% in the third quarter of 2020 after a record 18.8% drop in the previous three-month period. Notably, this was the highest increase since 1955. However, the level of UK GDP is still well below its pre-pandemic levels. Will the GDP report again surprise investors with upbeat data?
How to trade on UK GDP?
- If the GDP beats the forecast, the GBP rises.
- If the GDP comes lower than expected, the GBP falls.
Instruments to trade: GBP/USD, EUR/GBP, GBP/JPY
The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.
The United Kingdom will publish the Inflation Rate on November 17, at 09:00 MT (GMT+2). How will it impact the markets?
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.