United States publish GDP data

Source: Dukascopy Bank SA


The United States Bureau of Economic Analysis has just published the country's quarterly Advance GDP data.

The markets expected that the GDP would have increased by 2.0% during the quarter. The data came in below expectations, as GDP had increased by 1.1%.

The lower data confirms views of an upcoming recession. A potential recession would cause a run to safety in the financial markets that would strengthen the US Dollar. Due to this reason, the USD spiked 0.30% on the news.

While the data compares quarter on quarter, it is published in an annualized form. Namely, quarterly changes multiplied by four. The US quarterly GDP is released and afterwards updated each month. Namely, there are three releases – Advance, Preliminary and Final. The Advance release has the most impact on the markets, as it reveals the initial insight into a quarter.
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