The EUR/USD currency pair revealed a regular 9 base points gain, despite the report showing an unexpected slowdown in the US economy. The pair kept pulling away from the 1.2500 high, targeting 1.2400 area.
The US economy revealed weaker-than-anticipated expansion pace in Q4, as solid consumer spending resulted in an increase in imports. The Commerce Department stated that the US gross domestic product rose at a 2.6% yearly rate in the December quarter, compared with 3.2% in the Q3, being restrained by an expanding trade deficit and moderate inventory accumulation. Meanwhile, durable goods orders rose 2.8% in December, with the US manufacturers benefiting from a solid global growth and a weaker currency, supporting the country's exports.
| Historical Data Table: US Advance GDP q/q | Economic Calendar for 29.01.2018 | ||||||||
| Date | 27.01.2017 | 28.04.2017 | 28.07.2017 | 27.10.2017 | 26.12.2018 | 1:30 PM | US Core PCE Price Index | ||
| Actual | 1.9% | 0.7% | 2.6% | 3.0% | 2.6% | 1:30 PM | US Personal Spending | ||
| Forecast | 2.1% | 1.3% | 2.5% | 2.6% | 3.0% | 9:45 PM | NZ Trade Balance | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| EUR/USD | 1.24357 | 1.24451 | 0.08% | EUR/USD | 30.20% | 69.80% | |||
| EUR/GBP | 0.87359 | 0.87384 | 0.03% | EUR/GBP | 35.82% | 64.18% | |||
| EUR/CHF | 1.16372 | 1.16333 | -0.03% | EUR/CHF | 25.10% | 74.90% | |||
| EUR/JPY | 135.989 | 135.946 | -0.03% | EUR/JPY | 29.48% | 70.52% | |||