UK GDP to have expanded in Q3! | Forex Factory

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UK GDP to have expanded in Q3!

  • #1
  • First Post: Oct 20, 2006 1:27am Oct 20, 2006 1:27am
Friday, October 20th, 2006 (4:30 am New York Time) UK

We have UK 3rd quarter GDP coming out. It's expected to be a bit weaker than 2nd quarter GDP. They are expecting it at 0.6%. If the number comes out at 0.7%, it would be good for the pound, so I may possibly go long on GBP/USD. If the number comes out at 0.5% or lower, it would be bad for the pound, so I may possibly go short on GBP/USD. If the number deviates by at least 0.1%, we may very well see a move of 50 pips or more either direction.
  • #2
  • Oct 20, 2006 1:42am Oct 20, 2006 1:42am
I was LONG (2 lots) way earlier than the news time. so it really does not matter if I straddle it or not. Got to be honest, I was lossing money when it kept trying to probe down 1.8660s several times...

Now that the drama is over, GBP is strong:
Good UK GDP
Expected GBP Rate Hike
Better UK Business environment vs Protectionism in US (more M&A in UK)
More Central Banks buying GBP vs USD

I'll keep long GBPUSD for a while till it hurts..
  • #3
  • Oct 20, 2006 1:46am Oct 20, 2006 1:46am
I went long on my Demo after losing money went long on my real account.
Exactly like BK said. I'll keep long position til it hurts.

Too bad for my real account, I got in a little late.
FXDD changed their pip spread on it also +1 pip

Oh well, it's ok as long as it's looking green in my account.
  • #4
  • Oct 20, 2006 1:47am Oct 20, 2006 1:47am
I waited for this release then I went long, better late than never
I wonder if i'm going to keep this trade open over the weekend.
  • #5
  • Oct 20, 2006 1:58am Oct 20, 2006 1:58am
This might not be the correct place for this post but, what is the general concensus on a free news ticker for 4X announcements. I can't seem to find anything that works well at this time of the day. I still don't know what the GBP GDP was and we are 28 minutes out.
  • #6
  • Oct 20, 2006 2:25am Oct 20, 2006 2:25am
Go to Bloomberg.com and open the TV option , you would heard and see the results in real time.
  • #7
  • Oct 20, 2006 2:42am Oct 20, 2006 2:42am
Thanks Gico

I also just found this thread

http://www.forexfactory.com/forexfor...ead.php?t=5136
  • #8
  • Oct 20, 2006 2:54am Oct 20, 2006 2:54am
so wuts the result? what are the #s?
  • #9
  • Oct 20, 2006 2:59am Oct 20, 2006 2:59am
btw

where in bloomberg can you see the GDP report?

its not in news
  • #10
  • Oct 20, 2006 3:06am Oct 20, 2006 3:06am
If u open Bloomberg before the news u will see it , it's like waching the news in TV , any way the numbers came out like this

UK GDP

<TABLE class=mycssTable2><TBODY><TR><TD>Period</TD><TD>Previous</TD><TD>Consensus</TD><TD>Actual</TD></TR><TR><TD>September (MoM)</TD><TD>0.6%</TD><TD>0.7%</TD><TD>0.7%</TD></TR><TR><TD>September (YoY)</TD><TD>2.6%</TD><TD>2.7%</TD><TD>2.8%</TD></TR></TBODY></TABLE>
  • #11
  • Oct 20, 2006 3:07am Oct 20, 2006 3:07am
Quoting clam61
so wuts the result? what are the #s?
Actual: 0.7% vs. Exp: 0.6%
fornix Just trade.
  • #12
  • Oct 20, 2006 3:13am Oct 20, 2006 3:13am
I have been watching/listening to both the Bloom. TV and Radio on the net and did not see anything about the CAD news at 7EST. Did I blink at the wrong time?
  • #13
  • Oct 20, 2006 3:23am Oct 20, 2006 3:23am
I forgot that GBPUSD moves peak during 6AM-7AM EST. - which means NOW!
Then it will fluctuate a little depending on how us reacts to it..

IT IS SO very tempted to click on the CLOSE.
  • #14
  • Oct 20, 2006 10:49am Oct 20, 2006 10:49am
Quoting best01
Friday, October 20th, 2006 (4:30 am New York Time) UK

We have UK 3rd quarter GDP coming out. It's expected to be a bit weaker than 2nd quarter GDP. They are expecting it at 0.6%. If the number comes out at 0.7%, it would be good for the pound, so I may possibly go long on GBP/USD. If the number comes out at 0.5% or lower, it would be bad for the pound, so I may possibly go short on GBP/USD. If the number deviates by at least 0.1%, we may very well see a move of 50 pips or more either direction.
This guy is either Felix from forex bastards-or someone who is copying him...
  • #15
  • Last Post: Oct 20, 2006 10:56am Oct 20, 2006 10:56am
Quoting NewstraderFX
This guy is either Felix from forex bastards-or someone who is copying him...
Who is Felix? what is forex bastards?

Thanks,
Ah.
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