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| How Will the British GDP Figure Impact Sterling? Posted: 24 Jul 2012 05:25 AM PDT
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. 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 |
| Posted: 24 Jul 2012 01:11 AM PDT
Riskier currencies, including the euro and Australian dollar, received a moderate boost in overnight trading following a positive Chinese manufacturing indicator. That being said, fears that Spain will soon require a full scale international bailout limited gains, and the euro remains close to a two-year low against the US dollar. Crude oil was able to advance close to $1 a barrel as a result of the Chinese news, and is currently trading close to the $89 level. Main News for Today German Flash Manufacturing PMI- 07:30 GMT Fed Chairman Bernanke Speaks- 12:45 GMT Read more forex news on our forex blog |
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