US GDP beats expectations

Source: Dukascopy Bank SA


The US quarterly Advance Gross Domestic Product data has been published. The US economy has grown 2.6% instead of the market expected 2.3% growth. Moreover, the previous -0.9% decline has been revised up to -0.6%.

The markets reacted to the news with a broad US Dollar decline, stock surge and treasury yield decline. The data indicates that the Federal Reserve would not be pressured to increase interest rates, as previously expected.

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