4:30am (NY Time) UK GDP q/q Forecast -0.3% Previous -2.4%
Our focus will be on the GDP, is defined as the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time. GDP is the primary measure for the economy’s health, and a stronger GDP means that the central bank will more likely to raise interest rate.
In response to the requests that I am getting from these posts, I am going to make a special video on Sentiment Trading, which is one of my signature Forex systems. Should have this video completed in the next 24 ~ 48 hours.
GDP came out much worse than expected at -0.8% with no prior revision. This brings yearly GDP to -5.6%, the largest decline since record begin in 1955. GBP/USD dropped immediately about 40 pips, then I waited for a retracement and SOLD GBP/USD for about 30 pips of profit. Not a bad trade for 1 hour of work.