United States GDP Spikes

made in the usa

If you missed yesterday’s article on U.S. Home Sales & the possible Syria attack, you can read it here.

Prelim GDP figures spiked .3% above economists expectation today, throwing the U.S. Dollar’s value upward against the Euro, Yen, and other major currencies.

The EUR/USD is trading at 1.324 and could be on it’s way down to 1.320.

U.S. GDP grew at a 2.5% annual rate this quarter according to revised estimates from the Commerce Department. This quarters growth was twice as much than last quarter’s.

1.7% was the initial estimate for this quarters GDP. 2.5% is a market-shaking number and could be used by the Fed to validate Tapering in September.

Unemployment claims were also announced this morning. A deviation of 1K won’t move the markets, 331K was the real, 330k was the forecast.

Not much news coming on Friday except for the Canadian GDP. That will be released at 8:30AM EST (New York Time).

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