26.04 - USD is firm around 4-month-high. How do we profit?
- by Anna K.
What is GDP? Essentially it is an indicator that explains us how strong the economy of the country is. The higher it is, the better the condition of economy is, the stronger the national currency is. And right now we are turning our attention towards USA – a country that is going to publish its GDP numbers today. And as we know, yesterday the greenback boosted by good economic data was at the 4-months-high point. Well, that is not the case right now.
Dollar index is falling today, as can be seen on the chart. It seems that expectation of the report is going to ruin the performance of the greenback for today, although we are going to have to wait for the actual report to arrive in order to find out the real reaction of the greenback.
With such an unpredictable behavior we are going to have to need trading signals today so that we are not lost in the flow of the news.