EUR/USD: Prelim GDP

The Euro lost against the US Dollar 14 base points, following Wednesday’s report showing the second estimate for the US economic growth. The EUR/USD dropped to the 1.1950 mark and retreated back initially, though the downward trend was sustained to see the pair returning to the last Friday levels by the morning session on Thursday.

The Commerce Department reported that the US economy expanded at a faster-than-expected yearly pace of 3.0% in the Q2. The country’s GDP growth marked the strongest reading in more than two years, nearing Donald Trump’s target. A rise was led by higher consumer spending and business investment, which could be further translated into a stronger path in the Q3 to dampen possible effects of Hurricane Harvey.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading