UK GDP on the agenda today | Forexlive

This sort of market volatility is great but really not for the faint-hearted. The push and pull continues with risk tones having held firmer in European trading yesterday before souring in US trading once again. I warned about that possibility in yesterday’s post here. Essentially, this is a market that is still figuring things out ahead of the US CPI data next week.

The dollar managed to recover strongly from early losses as well considering the switch up in the risk mood and is slightly higher today. The ranges are still light as we head towards European trading but as markets are staying more cautious, we are likely to see the dollar keep steadier in the session ahead.

UK GDP data will be in focus but that shouldn’t be much of a market mover (it might be for the pound if there is a significant downside miss). All eyes will instead be on the UMich consumer sentiment survey coming up later in the day. Adam shared some thoughts on that earlier here.

0700 GMT – UK December monthly GDP data
0700 GMT – UK Q4 preliminary GDP figures

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.