Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
The Big Release for the USD
What will happen?
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3. This indicator represents the annual change in the value of all goods and services produced by the country’s economy.
Why is it important?
The preliminary GDP is the broadest measure of economic activity. A significant increase in its figures shows that the economy is expanding. Therefore, it signals to the central bank that the bank needs more tightening.
Last time, the Preliminary GDP on came out in line with the forecasts. It rose by 7% and pulled the EURUSD lower to the support. If you opened a sell trade of one lot, you could have earned $630.
How to trade on the Preliminary GDP?
To trade on the event, you need to compare Actual with Forecast in the economic calendar.
- If the release is greater than forecasted, the USD will rise;
- If the release is lower than forecasted, the USD will fall.
Instruments to trade: EURUSD, GBPUSD, USDJPY
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