The third-quarter GDP report will be released on Thursday. Here's how to position yourself using currencies.
Economic reports have been all over the place lately, but expectations for third quarter GDP are reasonably strong, at 2.5%. Andrew Busch, global currency and public policy strategist for BMO Capital, has a plan for trading that sentiment.
Busch sees three scenarios for GDP, due to be released Thursday. If it comes in over 2.5%, he would sell the dollar and buy the Australian dollar, and if it hits 2.5%, he would stand pat. On the other hand - and this is his most likely scenario - if GDP comes in lower than 2.5%, he wants to sell the Australian dollar and buy the greenback.