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  1. #1
    Senior Member LeeChang's Avatar

    Hot US GDP Figure in One Hour! !!!

    Hi people,

    The preliminary US Gross Domestic Product data will be available after one hour. Markets are trading in narrow ranges expecting the announcement. My expectations and the technical picture now is looking like selloffs are ready to appear. It will depend of course of the exact data, but if it is better than expected it could strengthen the dollar, respectively if the data is weak we could see initial decline in the dollar index but after that it could turn again bullish on dollar. So I will trade with Puts on EUR/USD and Calls on USD/JPY if the price action allow me to place them on time.

  2. #2
    Specialist Member marvel's Avatar
    US GDP was 2.4% up which is almost the same as the preliminary expectations. Initially it weakened the dollar, but it was very short lived spike I think.

  3. #3
    Rookie Member nelica77's Avatar
    It was really a short lived spike and the US dollar is gaining power again. I am not expecting more volatility because there is no other important news for today.

  4. #4
    Legendry Member milos's Avatar
    GDP,Unemployment claims and Pending Home Sales are the strongest economic factors.All are negative today and they have negative influenced on dollar.

  5. #5
    Rookie Member
    Quote Originally Posted by milos View Post
    GDP,Unemployment claims and Pending Home Sales are the strongest economic factors.All are negative today and they have negative influenced on dollar.
    Exactly! The dollar is weakening after the worse than expected data today. The major currency pairs are up with about 100 pips in last few hours. The crude oil too and the precious metals also are trading higher.

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