EUR/USD: US Prelim GDP

The European Common Currency traded sideways against the US Dollar, following the US Prelim GDP data release on Tuesday at 12:30 GMT. The EUR/USD exchange currency rate gained 4 pips or 0.04% right after the release. The Euro continued trading at the 1.1140 level against the Greenback.

Bureau of Economic Analysis released the US Prelim GDP data, which came out in line with expectations of 3.1%.

According to the official release: "Today's estimate reflects downward revisions to nonresidential fixed investment and private inventory investment and upward revisions to exports and personal consumption expenditures (PCE). Imports, which are a subtraction in the calculation of GDP, were revised up; the general picture of economic growth remains the same."