The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Final GDP will impact USD
What will happen?
The final US GDP will be out at 14:30 MT on March 25. The GDP growth is one of the most important economic indicators for any country and especially for the US. Therefore, traders pay a lot of attention to it. There are 3 versions of GDP released a month apart - Advance, Preliminary, and Final. This report is the third and the last one. The Preliminary report revealed the economic expansion of 4.1% in Q4 2020, slightly higher than the Advance one, which was 4%. In comparison with the 33.4% growth in the third quarter, the Q4 data, of course, wasn’t so encouraging. The continued increase in Covid-19 cases and social distancing restrictions pressed down consumer spending.
How to trade on US Final GDP?
Nothing is easier! Open our economic calendar at 14:30 MT on Thursday and follow the rule below.
- If the GDP growth is greater than the forecast, the USD will rise;
- Otherwise – fall.
Instruments to trade: EUR/USD, GBP/USD, AUD/USD, USD/CAD
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?