DONT TRADE TODAY!!! Bro In Finance has decided to refrain from placing any trades involving USD, EUR, and GBP pairs today due to the upcoming significant news. The economic indicators below highlight deviations from forecasted values, which could result in increased market volatility and unpredictability.
Key Economic Data Overview
- United Kingdom:
- Core Inflation Rate YoY (July): Actual 3.3% vs. Forecast 3.4% (Previous 3.5%)
- Inflation Rate YoY (July): Actual 2.2% vs. Forecast 2.3% (Previous 2%)
- Eurozone:
- GDP Growth Rate QoQ 2nd Est (Q2): Actual 0.3% vs. Forecast 0.3%
- GDP Growth Rate YoY 2nd Est (Q2): Actual 0.6% vs. Forecast 0.5%
- United States:
- Core Inflation Rate YoY (July): Actual 3.2% vs. Forecast 3.3% (Previous 3.3%)
- Inflation Rate YoY (July): Actual 2.9% vs. Forecast 3% (Previous 3%)
Impact on Market Sentiment
The deviations from the forecasted figures in the UK, Eurozone, and US economic data can significantly impact the market. With the Core Inflation Rate in the UK coming in lower than expected and the US also experiencing a slight dip in inflation, traders might see a wave of unpredictable reactions. Similarly, the Eurozone’s GDP growth data, although in line with expectations, is critical to future economic outlooks.
Given the potential for heightened volatility and the unpredictable nature of market reactions to these key economic releases, we believe it is prudent to avoid any exposure to USD, EUR, and GBP pairs until the market stabilizes. Our goal is to ensure that trading decisions are made in a controlled environment where risks can be effectively managed.
We advise our community of traders to stay updated with further developments and exercise caution when engaging in any market activities today. As always, our priority remains on safeguarding our capital and maintaining a strategic approach to trading.
We will be continuing trading as usual from tomorrow onwards, so take a rest today my dear fellow BROS!!!!
Written by D Fernando
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