US Final Q4 GDP 2.2% – USD ticks down

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A slightly disappointing GDP read: it remains at 2.2% annualized – no upgrade. The final read usually has less impact.

The USD is a bit lower, with EUR/USD ticking above 1.0890. Update: teh slide of the greenback is accelerating.

Personal spending is a bit higher: 4.4% from 4.2% previously reported. The GDP price index is unchanged at 0.1%. The Core PCE final number remains at 1.1%.

GBP/USD is around 1.4910, USD/JPY is at 119.10, USD/CAD is below 1.25 at 1.2488, AUD/USD is flirting around 0.78 and NZD/USD around 0.7580.

The third and final read for US GDP growth for the fourth quarter of 2014 was expected to be upgraded to 2.4% (annualized) from a 2.2% level in the second read.

Towards the release, the US dollar began sliding once again.

Earlier in the week, we had data for February: news home sales and inflation came out better than expected while durable goods orders disappointed and not for the first time. Weekly jobless claims were OK and the early Markit services PMI for March also beat expectations.

And earlier in the day, the US dollar was on a roll, seemingly ending its correction.

More: An Uneven USD Pullback; What’s Next? – Credit Suisse

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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 the 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.

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