EUR/USD: US Advance GDP

The European Common Currency depreciated against the US Dollar, following the US Advance GDP data release on Friday at 12:30 GMT. The EUR/USD exchange currency rate lost 24 pips or 0.22% right after the release. The Euro continued trading at the 1.1145 level against the US Dollar.

Bureau of Economic Analysis released the US Advance GDP data that came out better-than-expected of 3.2% compared with forecast 2.2%.

According to the official release: "The increase in real GDP reflected increases in consumer spending, inventory investment, exports, government spending, and business investment that were partly offset by a decrease in housing investment. Imports, which are a subtraction in the calculation of GDP, decreased in the first quarter."