UK GDP Jan 24 | Page 2 | Forex Factory

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UK GDP Jan 24

  • #21
  • Jan 24, 2007 3:57am Jan 24, 2007 3:57am
January isnt good to me - the latter half of January.

I'll trade lightly till ISM and NFP comes around... perhaps Feb will bring in the pips.
  • #22
  • Jan 24, 2007 4:09am Jan 24, 2007 4:09am
Both my long and short order was triggerred (fortunately in two different accounts). I got +17 pips on my short order and had to wait for 30 minutes to book +5pips on the long order too!
  • #23
  • Jan 24, 2007 4:19am Jan 24, 2007 4:19am
Quoting notouch
It wouldn't surprise me at all if the decision was unanimous - like the last one. After all, they knew that inflation was at 3% which is only 0.1% away from King having to write a letter to the Chancellor. This will lead to a temporary spike in Cable followed by a big move down.
Even though the decision was not unanimous, the result you called still happened and I wish I would have been prepared for it. Unfortunately, I went long with the spike because I saw the pre-buying right before the news came out that pushed the the GBP higher about 12-15 pips right before the release. Then came the small spike that I thought confirmed the pre-buying but it went from 9754 to 9695 in a few seconds. Thank God I didn't panic and rode the 65 pip retrace to close out with a few pips gain instead of a big loss.
  • #24
  • Jan 24, 2007 4:28am Jan 24, 2007 4:28am
Quoting Pr0v356
Even though the decision was not unanimous, the result you called still happened and I wish I would have been prepared for it. Unfortunately, I went long with the spike because I saw the pre-buying right before the news came out that pushed the the GBP higher about 12-15 pips right before the release. Then came the small spike that I thought confirmed the pre-buying but it went from 9754 to 9695 in a few seconds. Thank God I didn't panic and rode the 65 pip retrace to close out with a few pips gain instead of a big loss.
I did a similar thing, mostly because it looked overbought. I added when it didn't penetrate the weekly pivot and had the patience to still hold. I'm still in, long gbp
Therefore what??
  • #25
  • Last Post: Apr 24, 2007 8:28pm Apr 24, 2007 8:28pm
Last January, I was able to predict a Positive UK GDP based on several factors such as Retail Sales and IP.

This month GDP, we have the following components:
Oct +0.9%
Nov +0.3%
Dec +1.1%
Q4 = +2.3%

Jan -1.8%
Feb +1.4%
Mar +0.3%
Q1 = -0.10%

Judging from the Retail Sales figures, I am seeing a lower GDP.
Estimate for Q1 GDP is 0.6%. Q4 was 0.8%. Will we see GDP lower than 0.6%? This is the question. The above figure shows -0.10% net Retail Sales improvements which suggests that it would be lower than previous' quarter's GDP. 0.6% is already low. So we may get anywhere from 0.5% to 0.7% later. Its going to be a big toss in the air.
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