What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
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
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What events to follow and how to trade during the week of July 2-6?
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