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How will the USD react to GDP release?
This is the third and the final release of American GDP growth in the first three months of the year. The publication will take place at 15:30 MT time on June 28.
The previous estimates showed that the US economy is in good shape. The US GDP rose by 2.2% on the annualized basis in the first quarter. It was a strong start of the year compared with other developed economies, in particular, the euro area. Such strong figures give the USD a competitive advantage versus the EUR.
Notice, that this time GDP growth we mentioned earlier may be revised either up or down. Such revisions are quite common as statistical agencies get more accurate figures. The bigger the revisions, the greater the moves in the USD.
- If the data is greater than the forecast, the USD will go up.
- If the data is weaker than the forecast, the USD will go down.
With mortgage applications heading south to their lowest value since late-2014, the American home lending sector is currently experiencing a key overhaul in how it’s getting on and also manages staffing levels…
Canada will release CPI and Core Retail Sales data on October 19 at 15:30 MT time. Both indicators are highly important. As a result, they will affect the Canadian market a lot.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…