Trade Idea: Early Morning UK Economic News On Friday
Friday, early in the morning, at 4:30 AM ET, a variety of production reports, as well as the Goods Trade Balance for the UK, will be released. Production reports include Manufacturing and Industrial Production.
Fortunately, to trade these news events here in the US, it’s not necessary to wake in the middle of the night.
For one trade strategy, traders can place the trade the evening before at 11:00 PM ET for 7:00 AM ET expirations; they can buy a Nadex GBP/USD spread with the ceiling where the market is trading at the time, and sell a GBP/USD spread with the floor where the market is trading at the time.
Ideally, spreads to have a combined profit potential of $35 or more, which is around a $17 profit potential or more per spread.
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