Economic activity in the US declined by 31.4% in Q2. US Dollar Index clings to modest daily gains above 94.00. The United States’ Real Gross Domestic Product (GDP) contracted at an annual rate of 31.4% in the second quarter, the US Bureau of Economic Analysis’ final (third) estimate showed on Wednesday. This reading came in slightly better than the previous estimate and the market expectation of -31.7%. Market reaction The US Dollar Index showed no immediate reaction to this data and was last seen gaining 0.2% on the day at 94.05. Key takeaways from the press release “The upward revision with the third estimate primarily reflected an upward revision to personal consumption expenditures (PCE) that was partly offset by downward revisions to exports and to nonresidential fixed investment.” “Current-dollar GDP decreased 32.8%, or $2.04 trillion, in the second quarter to a level of $19.52 trillion. In the first quarter, GDP decreased 3.4%, or $186.3 billion.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD Price Analysis: Manages to hold above 200-hour SMA, 1.2800 mark FX Street 2 years Economic activity in the US declined by 31.4% in Q2. US Dollar Index clings to modest daily gains above 94.00. The United States' Real Gross Domestic Product (GDP) contracted at an annual rate of 31.4% in the second quarter, the US Bureau of Economic Analysis' final (third) estimate showed on Wednesday. This reading came in slightly better than the previous estimate and the market expectation of -31.7%. Market reaction The US Dollar Index showed no immediate reaction to this data and was last seen gaining 0.2% on the day at 94.05. Key takeaways from the press release "The upward revision… 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.
