Fundamental Analysis
Friday, October 19th (04:30 am New York Time) UK
We have UK GDP coming out. The timing of this indicator is very important. This indicator may literally determine the next interest rate move of the Bank of England. It's expected to come out at 0.7%. If it comes out at 0.8% or above, it would be a strong reading, and I think that GBP/USD can possibly go up by 50 pips or more in the first hour of the report. If on the other hand GDP comes out at 0.6% or lower, GBP/USD can possibly go down by 50 pips or more in the first hour of the report.
Friday, October 19th (07:00 am New York Time) CANADA
Then we have the CPI reading coming out of Canada. The most important reading will probably be the CPI core y/y, which is expected to read 1.9% or 2.0%. I think if the reading is at 1.8% or below, USD/CAD may possibly go up by 50 pips or more in the first hour of the report. If the reading is at 2.1% or higher, USD/CAD may possibly go down by 50 pips or more in the first hour of the report.
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