US GDP release causes volatility

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Source: Dukascopy Bank SA


The publication of the United States Final Gross Domestic Product has caused major volatility of the US Dollar index. The index plummeted 18 points, before recovering as much as 35 base points.

The finalized quarterly GDP data revealed that GDP had increased by 2.1% not the expected 2.2%. It indicates that the US economy is weaker than expected, which signals lower demand for the US Dollar. However, a slowing down economy also signals that the Federal Reserve might not need to continue to increase interest rates and cause a recession.

The US Gross Domestic Product is being calculated quarterly and released via three publications - Advance, Preliminary and Final. Today the statisticians released the final release.
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Fri, 06 Oct 2023 12:39:18 GMT

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