US GDP Q3 revised down to 3.2% in the final read – USD ignores


3.3% was expected, so this is a small downgrade. The core PCE was also downgraded from 1.4% to 1.3%. The deflator remained unchanged at 2.1%. Personal consumption is at 2.2%, private investment at 7.3%, exports at 2.1% and government spending at 0.7%. Al  in all, the changes are minor.

In a separate release, we learned that jobless claims rose from 225K to 245K, worse than 231K projected. The Philly Fed manufacturing index jumped to 26.2 points, better than had been forecast.

The US dollar is slightly lower.

  • EUR/USD bounces to 1.1867. Resistance is at 1.1910, followed by 1.20.
  • GBP/USD is at 1.3354. Resistance is at 1.3380 and 1.3420.
  • USD/JPY trades around 113.40. Resistance is very close at 113.50.
  • USD/CAD is at 1.2730.
  • AUD/USD is around 0.7670.

Update: after the initial move, the greenback is gaining ground once again. In any case, the moves are quite shallow, not different from what we have seen in recent weeks.

More: BTC/USD technical charts look more rational and they point down

Get the 5 most predictable currency pairs

About Author

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.

Comments are closed.