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MARKET BRIEFING – LONDON OPEN 25.03.2016
This afternoon at 12:30 pm London the Bureau of Economic Analysis publishes its latest Final GDP report.
This report measures the annualized increase or decrease of all production which includes services that the US economy producers.
This report is produced on the quarterly basis and is released some 85 days after the quarter ends.
GDP data is released in three different versions being the Preliminary, Final and Advance GDP numbers. Of the three data sets, the Advanced GDP is the most followed as it is the earliest release and therefore usually has the greatest effect.
GDP data is an important measure of countries economic wellbeing as a productive activity. Expanding or contraction productivity can be used as an early barometer which measures expanding or contracting economic activity.
The prior GDP release showed indicated an expansion of 1.0% with the market consensus expecting today’s number to be unchanged.
In general, a GDP release that is greater than the forecast should lead to an appreciation of the US Dollar.
EURUSD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 1.1285
Target 2: 1.1070
Projected range in ATR’s: 0.0106
Daily control level: 1.1260
GBPUSD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 1.4300
Target 2: 1.4005
Projected range in ATR’s: 0.0146
Daily control level: 1.4400
USDJPY
The intraday technical outlook
Trend 1 hour: Up
Target 1: 113.95
Target 2: 111.70
Projected range in ATR’s: 1.14
Daily control level: 112.35
USDCHF
The intraday technical outlook
Trend 1 hour: Up
Target 1: 0.9845
Target 2: 0.9670
Projected range in ATR’s: 0.0088
Daily control level: 0.9735
USDCAD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.3390
Target 2: 1.3090
Projected range in ATR’s: 0.0150
Daily control level: 1.3020
AUDUSD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 0.7615
Target 2: 0.7425
Projected range in ATR’s: 0.0095
Daily control level: 0.7650
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