How to Trade Euro Zone GDP
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The euro zone's second quarter GDP will be revealed within hours. Here's how to trade it.
Investors covering short positions gave the euro a little lift today - but as they say, tomorrow is another day.
Euro zone GDP will be announced Tuesday, and Amelia Bourdeau, director of foreign exchange at Westpac Institutional Bank, says it won't be pretty.
"The market's pricing about a 0.2 percent loss. I think it could be weaker. There's a strong risk that it will come in to the downside," she told CNBC's Melissa Lee. On top of that, Bourdeau notes that Greece will be auctioning T-bills, adding more event risk.
Monday's euro strength, Bourdeau says, "gives you a good chance to short the euro before tomorrow morning, before the GDP release."
Bourdeau wants to sell the euro at 1.2350, setting a stop at 1.2430 and a target of 1.2150. Step lively.
You can watch the discussion on the video clip, starting at 1:26.
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