GBPUSD Top Volatility Risk Between UK GDP and FOMC Rate Decision
We are coming upon our second wind of event risk this week, and this one threatens to be the heaviest. Will the Fed finally banish QE3 expectations still prayed for amongst the speculative masses? The economic and rate forecasts that will follow the Fed decision will spell it out for us. Is the UK economy destined to tip into recession under the Prime Minister Cameron's austerity drive? We have First Quarter GDP on tap to answer that. Naturally, GBPUSD looks to be one of the most high-level volatility candidates over the coming 24 hours, but this event risk could tap into deeper concerns and generate activity for the broader market.