Home US GDP revised to 3.5% in final Q3 read – USD rises
Forex News Today: Daily Trading News

US GDP revised to 3.5% in final Q3 read – USD rises

Good news from the US: the economy grew at an annualized pace of 3.5%, better than 3.3% expected. Also, durable goods orders came out above expectations and also consisted of upwards revisions. Only jobless claims missed.

The US dollar is slightly higher after the big data dump, with considerable gains against the Canadian dollar. The loonie focused on weak Canadian inflation figures and seems to ignore a  big beat in retail sales. Elsewhere, EUR/USD is confined in a range, which USD/JPY aspires towards the 118 level. GBP/USD is  still keeping a safe distance from the 1.23 level. AUD/USD and NZD/USD shrug off the strength.

The US was expected to report a small upgrade to Q3 GDP, from an  annualized estimate of 3.2% in the second read to 3.3% in the third and final call. This publication is accompanied by a big bulk of other releases, most  notably, durable goods orders.

The US dollar was trading in a mixed fashion ahead of this release, the last significant event before Christmas settles in.

US Dada (updated)

  • GDP: previous 3.2%, expected 3.2%, actual: 3.5%.
  • Jobless claims: prev. 254K, exp. 256, actual:  275K.
  • Durable goods orders: prev. 4.6%, exp. -4.7%, actual: -4.6%
  • Core durable goods orders: prev. 0.8%, exp. 0.2%, actual: +0.5%
  • Ex-defense / ex-air: +0.9%, upbeat.

Note that also Canada released important data: CPI and retail sales.

More:  EUR/USD: Make Or Break At 1.0465; GBP/USD: Make Or Break At 1.2330 – SocGen

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.