American GDP and its impact on the USD

American GDP and its impact on the USD

The USD has recently been ahead of other currencies. The main reason behind its strength was that the strength of the American economy in comparison with the economies of other advanced nations.

To continue its advance, the greenback needs more positive figures. That’s why traders will pay special attention to the key economic indicator called GDP. The second release this indicator for the months of April-June will take place at 15:30 MT time on August 29. The initial figures showed that the US economy had risen by 4.1%. That was a bit lower than the forecast number of 4.2%. Notice that this indicator often gets revised.

• If GDP growth is revised up, the USD will gain.

• If GDP growth is revised down, the USD will fall.

Check the economic calendar

US GDP.png

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Key Forex Event: US Inflation Rate
Key Forex Event: US Inflation Rate

The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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