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US GDP Q1 revised to 0.8% – EUR/USD falls

No surprises in the second release of US GDP: a minor upwards revision to 0.8% annualized, within expectations of 0.9%. Personal consumption remains unchanged at 1.9% but the drop in exports improves to -2% and sales move up to 1%.  Growth remains soft.

The US dollar is  ticking down, nothing earth shattering. Update: after the initial standstill, we do get new lows on EUR/USD as well as similar moves on other currency pairs.

The United States was expected to upgrade the GDP estimate for Q1 2016 to an annualized level of 0.9% instead of 0.5% reported in the first release.  See how to trade the US GDP with EUR/USD

The US dollar gained some ground ahead of the publication.

Later in the day we have a revision of the consumer sentiment for May by the UoM and a speech by Fed Chair Janet Yellen, although it isn’t focused on monetary policy.

EURUSD falling after US GDP May 27 2016

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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.