🗓💸Three economic news to be released today
GDP, Jobless Claims and Durable Goods Orders, the three with huge impact and at the same time.
The fun part? there's no ideal data, any data can be good or bad, in my opinion, just an instrument for whales to create some liquidations and manipulate the market.
Why am I saying that? let's review the potential impact.
GDP: previous 3.4%, forecast 1.3%.
- Positive: a stronger GDP (higher than 1.3) means the economy is stronger and people have more acquisition power.
- Negative: if the economy is getting stronger, why lower the rates? the FED wants to slow down inflation and good data isn't helping.
Durable Goods Orders: previous 0.7%, forecast -0.5%.
Similar as before, a better number means the spending of manufactured goods is going up, might reflect a resilient economy and positive feeling among the population. However, why to estimulate it further with rate cuts (no rate cuts is bad for crypto)?
Initial Jobless Claims: previous 238k, forecast 236k.
In this case, the opposite. More claims for government aids due to lost jobs means less spending power, so bad. However, that could trigger a faster rate cut.
So, in a nutshell, all those news will be controversial, and the only direct impact I can foresee is huge volatility, lots of liquidations, and big market manipulation.
Remember, tomorrow we have CPI data, this one is, conversely, one directional. Lower value means less inflation, good for rate cuts and pump crypto.
What do you think will happen today?
Trade safely!