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US GDP causes USD volatility

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


At 12:30 GMT on Thursday, the US Advance GDP data for the quarter was released. The GDP grew by 2.0% instead of the forecast 2.6%.

The EUR/USD reacted to the event with a 15 pip move up. However, immediately after, the rate dipped 10 pips, back to 1.1590. The dip was attributed to the Advance GDP Price Index, which was at 5.7% instead of the forecast 5.3%.

Afterwards, the EUR/USD bulls recovered and resumed the EUR/USD surge.
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