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Differences between the Foreign Exchange Market and Stock Market May 23, 2022
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Gross Domestic Product (GDP)

Mira Team by Mira Team
December 31, 2020
in Forex Terms
Reading Time: 1 min read
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Definition – What does Gross Domestic Product (GDP) mean?

Gross domestic product (GDP) is an economic measure that adds up the value of all the goods and services produced in a country over a specific time period. GDP figures are traditionally released on an annual basis, but some countries provide updates on a quarterly or monthly basis.

ForexTerms explains Gross Domestic Product (GDP)

The release dates of GDP figures are important to forex traders because a country’s GDP performance usually has an immediate effect on the country’s currency. Generally speaking, if GDP has grown, the market reaction will be positive. If GDP has shrunk or hasn’t grown as much as the market expected, then the currency may see a dip.

The accuracy of GDP figures have been an issue, as some economists question reporting practices in other nations and other economist question the value of GDP itself. For forex traders, however, GDP releases are an opportunity to trade on market fundamentals.

ⓘ Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite.

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