US GDP moves the markets

Source: Dukascopy Bank SA


On July 28, at 12:30 GMT, the United States Bureau of Economic Analysis published the US quarterly Advance GDP data for the second quarter of 2022. The market consensus for the GDP was at 0.4% growth. The actual data revealed a decline of -0.9%.

In April, the Advance GDP revealed a -1.4% decline for the first quarter of 2022. A second quarter of GDP decline, in some theories, marks a recession.

The EUR/USD reacted to the news with an immediate surge of 26 base points or 0.25%.

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