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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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Actual Topics

26 Jul 2024

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.

24 Jul 2024

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.

24 Jul 2024

European PMIs reveal grim expectations

During the early hours of July 24, S&P Global released the results of the Purchasing Managers Index survey results. In general, the survey has disappointed the markets, as almost all readings are below expectations. The PMI publication consisted of six notable readings. For each country, S&P Global publishes two survey results. One fore the services sector and one for the