The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
You Need to Watch After the GDP Release in Britain
What will happen?
Great Britain’s office for national statistics will release preliminary gross domestic product (prelim GDP) on February 11, 9:00 GMT+2. Estimates of GDP are released on a monthly and quarterly basis. Quarterly ones tend to have the most impact as they collect the data from bigger periods. It's the broadest measure of economic activity and the primary gauge of the economy's health.
What is the impact on the GBP?
GDP reflects a change in the inflation-adjusted value of all goods and services produced by the economy. Thus, bigger-than-expected (or just huge) numbers tell us about economic growth. Unfortunately, last time the data turned out to be lower than expected. After the release, GBP/USD lost 700 points in several hours—plenty of time to plan and execute any trade.
How to trade on Britain's GDP release?
The market takes higher-than-expected numbers positively for the GBP, while an opposite reading is bearish for the currency.
- If actual numbers beat expectations – the GBP will rise.
- Otherwise, fall.
Check the economic calendar
Instruments to trade: GBP/USD, GBP/CAD, GBP/JPY.
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.
The Bank of England will publish its Monetary Policy Report and Summary, Official Bank Rate, and its votes on May 5 at 14:00 MT.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.