Sep 10 – Economic Events Outlook – UK’s GDP In Highlights
Arslan Butt • 2 min read
Welcome back, traders.
I hope you had an amazing weekend and are now ready to begin another exciting week. So, let’s get ready for it as the economic docket is giving some really nice trading opportunities. During the Asian session, the dollar held largely steady against a basket of major currencies. It’s mostly due to a strong US labor market report and fears of a possible escalation in the China-US trade conflict. Let’s take a look at the major economic events today…
Watchlist – Key Economic Events Today
GBP – GDP m/m
At 9:30 (GMT), you should see the GDP data which is expected to jump from 0.1% to 0.2% in September. It’s gonna be the first GDP release of Q3 2018. It will be exciting to see if worries about a no-deal Brexit have already impacted economic activity.
GBP – Manufacturing Production m/m
Besides the GDP, the UK economy is due to release the manufacturing production at 9:30 (GMT). The manufacturing production is forecast to drop to 0.2% vs. 0.4% previously.
GBP – Goods Trade Balance
We need to see the Trade Balance figures which are also due at 9:30 (GMT). As you know, it’s a difference in value between imported and exported goods during the reported month. Therefore, a higher number signifies growth in the economy.
The current month’s trade balance carries an expectation of 11.7B deficit which is higher than 11.4B previously. Among all these economic events, the GDP data carries the most importance, but in the case of mixed economic releases, investors will be hesitant to enter the market. While the one-sided (both negative or both positive) data will offer us clear cut entries today.
So, buckle up to catch our forex trading signals and also stay tuned to FX Leaders economic calendar for real-time coverage of news and trade levels.