How Will the British GDP Figure Impact Sterling?

By FOREXYARD,  July 24, 2012, 08:25:54 AM EDT

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At FOREXYARD, we believe in keeping our clients prepared for potentially significant news events. As such, traders will want to carefully monitor the UK Prelim GDP figure, scheduled to be released tomorrow, July 25th at 8:30 GMT. Last quarter's GDP figure showed that the British economy contracted by 0.3%, well below analyst's predictions. As can be seen in the chart below, the GBP tumbled following the news.
GBPUSD

Don't miss out on another opportunity to capitalize on market volatility!

Analysts are predicting tomorrow's news to come in at -0.2%, which if true, would signal a further decline in the British economy and could lead to additional losses for sterling during European trading. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don't miss out!

Read more forex news on our forex blog




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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