US GDP surprises markets

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Market consensus forecast was that the quarterly US Advance GDP will show 2.0% growth. Actual released number is a stunning 2.8%.

Initially the news caused an upward move of US stocks and the US Dollar.

However, the Bureau of Economic downgraded the previous reading from 1.6% down to 1.4%, which initiated a reversal of the initial spike up of the Dollar.
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Fri, 26 Jul 2024 12:49:48 GMT

Core PCE inflation increases 0.2%

The US Bureau of Economic Analysis has published the Core Personal Consumption Expenditures Index. This index reveals inflation at the consumer level. Prices have increased by 0.2%, as expected by market analysts. The US Dollar is reacting to the news by increasing its volatility without a clear direction. In the current market environment inflation remains the top macroeconomic aspect to watch.

Wed, 24 Jul 2024 13:55:51 GMT

Bank of Canada cuts interest rates

At 13:45 GMT, Bank of Canada lowers interest as it was forecasted, by 0.25 basis points. Current interest rate defined by Bank of Canada's monetary policy is 4.50 %. Canadian Dollar is reacting to the downside. Lower rates are better for the consumer looking forward.

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