The US economy grew by 3.5%, above 3.3% expected. The PCE Prices component rose by 1.6% and so did the Core PCE. The Deflator advanced by 1.4%.
The greenback is marginally higher in the immediate aftermath. It had already made big gains ahead of the release.
— more to come —
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The US was expected to report annualized GDP growth of 3.3% in the Q3 2018, slower than 4.2% in Q2, which was the highest in four years.
The US Dollar and the Japanese Yen were marching forward ahead of the publication amid the sell-off in stock markets. Concerns about the Brexit impasse, the clash between Italy and the European Commission, the Fed’s hawkish policy, and tariffs all weigh on equities and investors are flocking into safe-haven assets.
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