Crucial News For The Following Week
Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!
The US GDP: What’s New?
What will happen?
The US will announce the advanced Gross Domestic Product (GDP) on July 28 at 15:30 MT time. The indicator comes out quarterly and shows the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
How can the USD react?
Last data was worse-than-expected: -1.4% vs 1.1%. As traders counted on another result, the greenback fell before the release and then fluctuated. If you traded one lot at the moment of release coming out, your income could have been $375.
How to trade on the US GDP release?
- If the Actual is better than the Forecast, the USD will strengthen even more.
- If actual numbers are worse than expected, the USD will fall.
Check the Economic Calendar.
Instruments to trade: EURUSD, USDCAD, USDCHF, XAUUSD.
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Focus on Banks' Meeting and NFP
The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.
Increased Volatility is Coming
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
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