UK 2nd Estimate GDP | Current Sentiment

Posted On 27 Nov 2015

We are not looking to make any trades today unless there is a major surprise in UK 2nd Estimate GDP. Watch the weekly risk events overview here and read my analysis of current market sentiment below in order to prepare for this release.

Current Sentiment:

The only noteworthy data point over the past twenty-four hours was inflation data from Japan. The focus for the BOJ is CPI excluding food & energy (core-core). Nationwide was at 0.70% for October y/y, down from a prior of 0.90%. Tokyo-area was at 0.60% for November, up from a prior of 0.40%. The move higher in Tokyo-area core-core is positive for the BOJ’s narrative that underlying inflation is trending higher. The BOJ have also begun releasing their own measure of core-core CPI which the central bank calculates itself. This figure, which also excludes food and energy, is released about five hours after the statistics bureau’s official release. The figure printed at 1.20% for October. The unemployment rate also dropped to 3.1% from 3.4% – the lowest of any major economy.

Asian equities fell during the session with the Shanghai down 5%. This has prompted yen strength with USDJPY down 30 pips from session highs.

We expect volumes to be thin again today, following on from Thanksgiving in the US and heading into the weekend.

To get daily market insights from Jarratt Davis delivered to your inbox simply enter your name and email below:

The post UK 2nd Estimate GDP | Current Sentiment appeared first on Jarratt Davis.

Source:: UK 2nd Estimate GDP | Current Sentiment

About the Author

Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"]www.facebook.com/JarrattDavisForex/[/social] [social type="twitter"]https://twitter.com/jarrattdavis[/social] [social type="google-plus"]https://plus.google.com/+JarrattdavisForexTrader/[/social] [social type="youtube"]https://www.youtube.com/user/JarrattDavisForex[/social]