All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?
The GBP may be supported
What will happen?
Great Britain will publish its trade balance for April on June 11, at 09:00 MT time. This indicator shows the difference in value between exports and imports. If the number is positive, the country has more exported goods than imported. The British trade deficit reached GBP 2 billion in March, despite analysts’ expectations of GBP -6.1 billion. According to current forecasts, the trade balance fell to GBP -3.2 billion in April.
How to trade on the British Trade Balance?
At first, visit the economic calendar. Find this release and check the estimates. Right after the release, compare the actual figures with the forecasts and follow the steps below.
- If the indicator is higher than the forecasts, the GBP will move higher;
- Alternatively, we can expect a fall of the GBP.
Instruments to trade: GBP/USD, EUR/GBP, GBP/JPY
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