Tuesday January 26th 2010, marked the preliminary quarterly GDP in the U.K.
It’s the broadest measure of economic activity and the primary gauge of the economy’s health.
The result: 0.1% was softer than forecast (0.4%); the results that followed were tremendous!
GBP/USD dropped close to 150 pips over the span of an HOUR, whilst GBP/USD dropped a
colossal 200 pips over the same time frame.
If you think that was exciting- this FRIDAY January 29th, there are two significant opportunities for traders at 1:30pm GMT.
Not only will we see Canadian GDP; forecast to 0.3%; but at the very same time- Advance GDP q/q in the USA.
The Advance release is the earliest and thus tends to have the most impact!
Focusing on the substantial results of the GBP, it looks like we are all in for an excellent opportunity to take advantage of the predicted volatility this Friday!
