U.S. Advanced GDP in Focus for Today’s Forex Trading

By Ashley Smith – The most interesting news releases today will be coming from the U.S. However, developments regarding the Greek bailout plan remain the most important driving force behind market trends. Without significant development, the EUR will not be able to sustain its recent rally and may again fall towards the 1.3100 level

Advance GDP – 12:30 – USD

The earliest release of the GDP data and thus tends to be the most important. As inventors eagerly await the Federal Reserve to start tightening monetary policy and start raising interest rates, a strong growth number will likely boost the expectation of that happening sooner than later and will prove supporting for the Dollar.

Chicago PMI – 13:45, Revised UoM Consumer Sentiment – 13:55

These are indicators of consumer as well as producer sentiment and outlook which is important in order to gauge the economic recovery progress. Better than expected result will intensify investor’s expectations of an impending interest rate hike, thus boosting the USD.

Forex Market Analysis provided by Forex Yard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.