Tomorrow, Wednesday, the 25th of 2012, the GBP-Prelim Gross Domestic Product Q/Q will be released at 4:30 AM ET
This is my 2nd BLOG post of this report – the forecast is not good for the U.K.
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Tomorrow, Wednesday, 01-25-12 at 4:30 AM ET, the GBP Prelim Gross Domestic Product (QoQ) report will be released.
The last time this report was released was on Wednesday, 07-27-11 at 4:30 AM ET, click here to see what happened .
This report is released by the U.K.s National Statistics on a Quarterly basis.
3 other reports are being released as well:
GBP Index of Services 3m/3m
released on a monthly basis by the National Statistics
GBP BBA Mortgage Approvals
Released monthly by the British Bankers’ Association
GBP MPC Meeting Minutes
Released monthly by the Bank of England
No trade last time!
Here is what is happening this release:
GBP Prelim Gross Domestic Product (QoQ) stats:
previous = 0.6%
forecast = -0.1%
Here is how I am set up for tomorrow:
GBP-4-30AM-01-25-12
Actual > Forecast = Good for currency
Looking for a 0.2% difference
GBP Gross Domestic Product (QoQ)
____actual_____forecast _____previous
______________ -0.1% ______ 0.6%
out at 0.1% or higher – BUY GBP/CAD
out at -0.3% or lower – SELL GBP/CAD
With 0.1 diff, I would trade against it.-
The forecast does not look good for the British economy.
I did post a “follow up” soon after this news report was over, click here to see what happened.
The next scheduled release of these reports is on Tuesday, 04-24-12 at 3:30 AM ET!
I will probably post a “preview” a day or two prior.
Stay tuned!
P.S. If you are interested in how I set up for a news trade – click on the “Training” link above for some videos.
P.P.S. If you are interested in the books I studied and recommend – click on the “FOREX Books” link above
