GDP for the third quarter is 2% (annually), within expectations. The immediate reaction is a weaker dollar, as the number is still relatively low – showing that serious QE is needed. Early expectations stood on an annual rise of 2.1%. The problem for the dollar is not that small miss of expectations, but that the figure and the expectations are both weak. EUR/USD rose from 1.3850 to 1.3880, USD/JPY dropped to 80.65, GBP/USD pushes towards 1.60 and AUD/USD managed to climb above the 0.9750 resistance line. All the moves are currently limited – no huge jumps. This GDP figure is heavily weighed by the members of the FOMC, that will meet next week to decide about the size of the quantitative easing program – known as QE2, or the big dollar printing program. This program sent the dollar down in the past two months, as dollar printing devalues the currency. In recent weeks, the dollar stabilized, as the QE program was already priced in, and the greenback moved on speculations about the size of the program. The motivation was a weak economy, with a high unemployment rate. GDP is a wide measure of the economy, with a time span of 3 months, making the release important. This is the first release of GDP for the third quarter. In Q2, the initial figure underwent a very significant revision afterwards. The big change is due to the fact that the government lacks an important portion of data before the first Advance GDP. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Will the Foreclosure Freeze Weaken the Dollar Soon? Yohay Elam 12 years GDP for the third quarter is 2% (annually), within expectations. The immediate reaction is a weaker dollar, as the number is still relatively low - showing that serious QE is needed. Early expectations stood on an annual rise of 2.1%. The problem for the dollar is not that small miss of expectations, but that the figure and the expectations are both weak. EUR/USD rose from 1.3850 to 1.3880, USD/JPY dropped to 80.65, GBP/USD pushes towards 1.60 and AUD/USD managed to climb above the 0.9750 resistance line. All the moves are currently limited - no huge jumps. This GDP figure is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.