UK GDP [q/q]
In total, there are three UK GDP releases, further to the best of the strength of the market reaction (the first is the strongest one): Preliminary, Second and Final. You need to clearly understand which report is in front of you at the moment. As a rule, the preliminary one is strong and published 26 days after the end of the quarter, as the GDP reports are quarterly.
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How to trade UK GDP [q/q]
If the data exceeds the forecast, then GBPUSD grows.
The GDP growth indicator is widely used by economists when assessing the state of the country's economy. So why this report is very popular.
Since the report is published on a quarterly basis, this is another plus to attention.
The main thing that needs to be done before trading is to understand which GDP report is front of you since there are only three releases and not every release is interested to the market (!).
The most important report is the preliminary one at the end of the quarter. As a rule, it is prepared for release after 26 days from the end of the previous quarter. This preliminary report will be the most volatile, it is for this report you can try the low triggers that cause the signal but you cannot use low triggers for the second and final reports.
The higher the market expectations for a change in the monetary policy of the Bank of England, the higher volatility will be in the market if the fact of the news deviates from its forecast. The report can be ignored in the case of excessively low deviations at a time when any changes in the Bank's policy are not foreseen.