US GDP beats with 2.3% – USD initially rises and then crashes

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The US reported GDP growth of 2.3% annualized in Q1 2018, better than 2.0% expected but close to the “whisper number” after the durable goods orders. The US Dollar began with a small rise, reaching new highs against the yen and the euro, but then retreated. It looks like profit taking move after a week of big gains for the US currency. Yields have retreated as well. All in all, the US economy is looking strong and the message from the Fed next week will likely be upbeat.
Here is the live coverage of the event as it happened:

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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 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.

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