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US Double Header Coming Up
There is something to be said about the dollars strength when strong secondary numbers could cause a 180 turn as the majors did yesterday following a soft read in the weekly claimant count and firmer figures for Flash Services PMI. Which now has the markets wondering what are we going to see in the days big double header for the US.
First we will be seeing Final GDP figures for Q4 where the market is looking at a 2.4% read against Q3′s 5.0% figure. This may have been a slow down but still underscores a growing economy and is an improvement from the initial estimates of a 2.2% read for the quarter. What should be interesting here for people is the GDP Price Index as a read which sustains the previous quarters strength or nearly so would likely lead to rate hike concerns rearing its head and consequently a stronger dollar play though consensus this time out is at a mere 0.1%.
Also note worthy will ve Final figures from the University of Michigan with its Consumer Sentiment Index on the cards, though consensus expectations call for a bit of decline to 92.0.
Source: http://www.fxinstructor.com/blog/us-double-header-coming-up
It’s so crucial to be updated with the upcoming news and events, if we trade without checking news then we will have huge profits or we will end up with having nothing. I always look at economic calendar before trading and thanks to OctaFX broker, it’s all too easy with them since they have epic calendar where I can find all the latest news according to my time zone, so that’s why it is so easy to be aware of any major news releasing.