Keep An Eye On Great Britain's Spending
Great Britain’s Office for National Statistics will put out its Retail Sales results for last month, on Thursday, April 23, 2015, along with its Public Sector Net Borrowing results.
Retail sales is the primary way to gauge consumer spending, which affects overall economic activity. Public Sector Net Borrowing however, is the difference in value between spending and income. The Public Sector report includes public corporations, central government, and local governments.
These reports are released monthly for a trade opportunity.
Put The Trade On The Night Before
This month the reports will be released at 4:30 AM ET, Thursday, April 23, 2015. However, to trade them, the strategy can be set up the night before, on Wednesday, at 11:00 PM ET, using Nadex GBP/USD Spreads. Nadex offers spread and binary derivatives on a variety of underlying markets including stock indices, forex, and commodities.
With evenly distributed profit potential on each side, the market can move 60 pips in either direction for a 1:1 max risk reward ratio. However, it's estimated, based on past analysis of market reaction, that the market will take off after the news release and pull back.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
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