GDP Figures Up Next

April 27 – Economic Events Outlook – GDP Figures In Focus

Posted Friday, April 27, 2018 by
Arslan Butt • 2 min read

Good morning, traders. We made it through another exciting week with some great trading signals. So far the market has been fully fundamentals driven, causing some unexpected fluctuations. The ECB (European Central Bank) left the minimum bid rate unchanged at 0.00%, causing weakness in the Euro. The same behavior is expected from the BOJ today, but the GDP figures from the US and UK may drive some action in the market. Let’s take a look…

Watchlist – Key Economic Events Today

 

Japanese Yen – JPY

BOJ Monetary Policy – As expected, the Bank of Japan left short-term interest rates at minus 0.1 % and the 10-year bond yield around 0%. The decision was made by an 8-1 vote, with board member Goushi Kataoka the only dissenter.

Moreover, the projected inflation is likely to hit its target during the next fiscal year. This indicates that its next move could be to dial back its huge stimulus which is coming a bit later than peer economies.

 

Great Britain Pound – GBP

Prelim GDP q/q – The Office for National Statistics is forecasted to release the GDP figure at 8:30 (GMT). The GDP (gross domestic product) is expected to drop to 0.3% vs. a rise to 0.4% in the previous quarter. The Sterling is likely to trade under bearish pressure on the sentiment that the BOE will be forced to keep rates on hold until economic events get better.

 

US Dollar – USD

Advance GDP q/q – Similarly, the Bureau of Economic Analysis is due to release the US GDP data at 12:30 (GMT). The advanced GDP is expected to drop to +2.0% vs. Q4’s final estimate of +2.9%. If the actual figure really fell by 0.9%, the dollar will be in trouble.  

 

Summing Up – Today’s market could stay extremely volatile as the economic calendar is loaded with top-tier events. So, brace yourself for volatility and try not to take shots before the news releases. Have an awesome weekend.

 

Check out our free forex signals
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt is our Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
The demand for safe-haven asset dampened after the Federal Reserve’s Chairman reinforced expectations by investors of the currency’s...
6 hours ago
Comments

Leave a Reply

avatar
  Subscribe  
Notify of