Gross Domestic Product (GDP) is a measurement of the production and growth of the economy. It is considered by analysts as one the most important indicators of economic activity. Thus, publication of Australian GDP may have a significant impact on AUD/USD. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Wednesday at 1:30 GMT. Indicator Background GDP is released quarterly, and provides an excellent indication of the health and size of the economy in the past quarter. Therefore its publication is always watched closely by traders. The GDP reading for the past quarter was a dismal -1.2%, the lowest figure in over four years. The forecast for September GDP is 1%, although this seems overly optimistic. The fall in commodity prices and slowdown in the Chinese economy will likely impact have a negative impact on Australian exports and may well lead to a drop in AUD/USD. Sentiments and levels Although the Aussie has managed to hold its ground of late, there are few indicators that point to a rise in AUD/USD. Thus, the overall sentiment is bearish on AUD/USD towards this release. Technical levels, from top to bottom: 1.0775, 1.07, 1.06, 1.0530, 1.0420, 1.0314. 5 Scenarios Within expectations: 0% to 1.7%. In such a scenario, the AUD/USD is likely to rise within range, with a small chance of breaking higher. Above expectations: 1.8% to 2.3%: An unexpected higher reading can send the pair well above one resistance line. Well above expectations: Above 2.3%: The chances of such a scenario are low. Such an outcome would push AUD/USD upwards, and a second resistance line might be broken as a result. Below expectations: -1% to 0%: A negative GDP figure could cause the pair to fall and break one level of support. Well below expectations: Under -1%. Given the weak global economy, such an outcome cannot be discounted. In this scenario, the AUD/USD will fall and could break a second support level. For more about the Aussie, see the AUD/USD forecast. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next USD/CHF: A daily close above 0.85 calls for 0.90 Gregor Horvat 11 years Gross Domestic Product (GDP) is a measurement of the production and growth of the economy. It is considered by analysts as one the most important indicators of economic activity. Thus, publication of Australian GDP may have a significant impact on AUD/USD. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Wednesday at 1:30 GMT. Indicator Background GDP is released quarterly, and provides an excellent indication of the health and size of the economy in the past quarter. Therefore its publication is always watched closely by traders. The GDP reading for the past quarter was a dismal… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
