EUR/USD: US Advance GDP

The European Common Currency depreciated against the US Dollar, following the US Advance GDP data release on Friday at 12:30 GMT. The EUR/USD exchange currency rate lost 12 pips or 0.11% right after the release. The Euro continued trading at the 1.1130 level against the US Dollar.

The Bureau of Economic Analysis released the US Advance GDP data, which came out better-than-expected of 2.1% compared with the forecast of 1.8%.

According to the official release: "The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment, exports, nonresidential fixed investment and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased."