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GDP (QoQ)
Gross domestic product (GDP) is the total value of finished goods and services produced within a country in a certain time period. GDP is a complex indicator that characterizes the general state of the economy and the dynamics of its development. First of all, the GDP indicator is used to compare levels of economic development in different countries. Depending on the calculation procedure, there are the following types of the indicator: the nominal GDP (takes into account prices for goods and services in the current observation period); real GDP (prices for goods and services are fixed, excluding the inflation effect on GDP); GDP per capita. The GDP dynamics assess the current state of the economy, its prospects, and the need for stimulation or deceleration by financial regulators. As the overall indicator of economic development, GDP is the key indicator used by the government authorities, corporations, and private investors in the strategic decision-making and forecasting.
In this article, we will talk about the economic calendar and determine what is better to rely on when making a decision to open deals: forecasts or previous values of indicators.
Today we will study the reaction of the foreign exchange market to the publication of revised values of economic indicators. And let's see if it's worth relying on them when making a decision to enter the market.
Previous studies trading on rollbacks have shown the usefulness of such a strategy for a number of economic events in the US, Australia and the Eurozone. Now let's see if trading on rollbacks is suitable for UK events.