Will American GDP growth boost USD?

Will American GDP growth boost USD?

What will happen?

United States Bureau of Economic Analysis will release quarterly preliminary GDP growth on February 24, at 15:30 GMT+2. This is the annualized change in the value of all goods and services produced by the economy. This indicator is one of the basic ones and shows the health of a country’s economy in general. This time the second estimate of the US GDP growth is published.

How will it affect the dollar?

The better the situation in American economy, the greater the probability that the Fed will raise its interest rate. As a result, when the actual figure is greater than expected, it’s good for the US dollar.

On November 24, 2021, the last release of the preliminary US GDP growth led to the gradual boost of the USD approximately by 300 points during the day, even though the difference between the predicted indicator and the actual was only 0.1%. Most likely, next week’s announcement will immensely influence the USD.

USD GDP.png

How to trade on the prelim GDP release?

Due to the significance of the GDP data, it will influence USD pairs in any case. Therefore, any result will lead to the volatility of this currency, either in a good way or vice versa.

If the indicator is the same as expected or higher, the US economy is doing great, and the USD will rise. On the other hand, if it’s lower than the prediction, it can show the problems of the US economy, so the USD may fall for a short period of time.

Check the economic calendar

Instruments to trade: EUR/USD, NZD/USD, USD/JPY, USD/CAD

Similar

Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

Latest news

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

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

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera