8:30am (NY Time) US Advance GDP q/q Forecast 1.6% Previous 1.9%
The Trade Plan
We’ll be trading this release using an after-news retracement method.
For more information on my trading methods, please read:
With limited job growth and rather disappointing Retail Sales figure at 0.8%, which counts as 70% of the GDP, and because this figure is the lowest sales figure since 2009, there are very little speculation that today’s GDP will surprise to the upside.
With Fed Bernanke still reiterating to maintain all options open and the recent debt ceiling debate threatening the sovereign rating of the USD, today’s GDP may provide support for the USD if we get a positive surprise, or send USD down even further into capitulation territory if we get a much worse than expected figure.