EUR/USD: Advance GDP

The European Common Currency traded sideways against the US Dollar, following the US Advance GDP data release on Wednesday at 12:30 GMT. The EUR/USD exchange currency rate lost 10 pips or 0.09% right after the release. The Euro continued trading at the 1.1105 level against the Greenback.

The Bureau of Economics Analysis released the US Advance GDP data, which came out better-than-expected 1.9% compared to the forecast of 1.6%.

According to the official release: "The increase in real GDP in the third quarter reflected positive contributions from personal consumption expenditures (PCE), federal government spending, residential fixed investment, state and local government spending, and exports that were partly offset by negative contributions from nonresidential fixed investment and private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased."