The EUR/USD fell slightly in the wake of Thursday's data showing the US economy expanded at a stronger-than-expected pace in the June quarter. Following the report, the European single currency depreciated against the US Dollar by 13 base points or 0.11%, though its losses were offset initially. The pair continued a side move nearing the 1.1780 level.
The Commerce Department said that the US economic growth in the second quarter was the quickest in more than two years, with a 3.1% annual increase in the reported period. However, growth momentum is expected to be slowed owing to the impact of Hurricanes Irma and Harvey. Analysts suggested anticipated weakness would be softened by rising inventory investment in the Q3.
| Historical Data Table: US Final GDP q/q | |||||
| Date | 29.09.2016 | 22.12.2016 | 30.03.2017 | 29.06.2017 | 28.09.2017 |
| Actual | 1.4% | 3.5% | 2.1% | 1.4% | 3.1% |
| Forecast | 1.3% | 3.3% | 2.0% | 1.2% | 3.0% |
| Initial Reaction on Main Pairs | |||||
| Open Price | Close Price | % Change | |||
| AUD/USD | 0.78261 | 0.78174 | -0.11% | ||
| EUR/USD | 1.17802 | 1.17671 | -0.11% | ||
| USD/JPY | 112.569 | 112.749 | 0.16% | ||
| NZD/USD | 0.72005 | 0.7191 | -0.13% | ||