Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaThe US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29. The data present an annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary gauge of the economy's health. While this is q/q data, it is reported in an annualized format (quarterly change x4). There are three versions of GDP released a month apart – Advance, Preliminary, and Final. The Advance release is the earliest and thus tends to have the most impact.
In the first quarter, the US GDP growth equaled 6.4%, which was lower than anticipated. Investors took this news in a positive way though as they paid more attention to the difference with the Q4 2020 result, which was 4.3%, and 6.4% in Q1, 2021.
Traders will want to see whether the actual numbers exceed market expectations or not as this will have the greatest impact on the USD.
Instruments to trade: AUD/USD, USD/CAD, NZD/USD.
