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Round two! We have the second reading of GDP for major economies coming up in the next couple of days.
Normally, the second reading isn’t a market event, because there’s very little, if any, change, compared to the flash readings.
This time, however, given the uncertainties of the COVID-19 situation, there is a potential for significant revisions.
At the last GDP reading from Japan, for example, the prior quarter was revised to contraction. This put Japan officially into a technical recession.
It’s unlikely that any of the countries reporting will fall into technical recession. However, it illustrates that an important variation over prior readings is definitely in the cards.
What We Are Looking For
First up to report is the US.
The United States publishes the GDP number along with a host of other major economic data. So, it might get lost in the shuffle.
Therefore, we don’t expect a sudden move in currency pairs just because of the GDP. It will be competing for...
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