The US Gross Domestic Product (GDP) is a key economic indicator that can affect price action across most major assets. This volatility may offer trading opportunities, but can also increase risk exposure and lead to greater losses.
The US GDP figures are set to be released soon. Keep track of all high-impact events and data releases on the Economic Calendar.
What to expect from this month's US GDP
Here are a few things to consider when trading this month's US GDP:
The second estimate for the first quarter's GDP is expected to be around 1.3% compared to the advance of 1.6% and 3.2% last quarter.
With the last release coming in lower, an unusually weaker NFP for April and April's inflation in line with expectations, economic conditions are now less positive than in recent months.
However, if there's a surprise and this release is significantly higher than the first estimate, the dollar could make some gains and gold retreat.
M15's ATR for gold peaked around $6.70 after last month's advance. Volatility will probably be at least slightly lower this time unless this second estimate is significantly different from the advance.
Get ready for the upcoming GDP release by funding your account.
What is the GDP?
The GDP represents the total dollar value of all goods and services produced in a country over a specific time period.
GDP figures provide insights into a nation's economic health and can also influence monetary policy. This is why it's labeled as a high-impact event on the economic calendar.
Assets affected by the US GDP
A stronger-than-expected US GDP reading suggests the USD may strengthen against other instruments and vice versa. As such, the upcoming release can impact most major assets including XAUUSD, GBPUSD, EURUSD, and USDJPY.
Trading during major economic events can be risky due to increased market volatility. This may result in wider spread and slippage. Be cautious, adjust your strategy, and monitor your positions closely.
Happy trading, The Exness Team
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