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The last Friday of the month is crammed full of what are often second-tier GDP numbers. The markets see them this way as they are from smaller economies.

However, they are just as relevant for their respective currencies, despite being more niche trades. The summary of GDP figures can also give us an impression of where the world’s economy is going, not just the major economies.

Last quarter was dominated by consistently optimistic news about a pending trade deal between the US and China. The deal would at least create a ceasefire and provide some stability.

The trade war was to blame for a significant amount of underperformance, especially in emerging markets. But, given the fears over the spread of COVID-19 in the first quarter, these figures might be used as a high-water mark to measure performance going forward.

Turkey in the Spotlight

The day starts with the release of the Turkish GDP. Projections indicate that it will continue its recovery and show a nominal increase of 5.0...

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