BREAKING: EURUSD gains after second US GDP reading 📌

13:32 29 May 2025

01:30 PM BST, United States - Employment Data:

  • Initial Jobless Claims: actual 240K; forecast 229K; previous 226K;
  • Continuing Jobless Claims: actual 1,919K; forecast 1,890K; previous 1,893K;
  • Jobless Claims 4-Week Avg.: actual 230.75K; previous 231.00K;

01:30 PM BST, United States - GDP data:

  • GDP (Q1): actual -0.2% QoQ; forecast -0.3% QoQ; previous 2.4% QoQ;
  • GDP Sales (Q1): actual -2.9%; forecast -2.5%; previous 3.3%;
  • GDP Price Index (Q1): actual 3.7% QoQ; forecast 3.7% QoQ; previous 2.3% QoQ;
  • Real Consumer Spending (Q1): actual 1.2%; forecast 1.8%; previous 4.0%;
  • PCE Prices (Q1): actual 3.6%; forecast 3.6%; previous 2.4%;
  • Core PCE Prices (Q1): actual 3.40%; forecast 3.50%; previous 2.60%;
  • Average Weekly Earnings: previous 5.40% YoY;
 

U.S. economic momentum softened in early 2025: real GDP slipped at a 0.2% annual rate in Q1 after rising 2.4% in Q4 2024, as a jump in imports and lower government spending outweighed gains in investment, consumer outlays, and exports; the GDP figure was nudged up 0.1 point from the advance estimate thanks to stronger investment. Core demand remained positive—real final sales to private domestic purchasers grew 2.5%—but inflation pressures persisted, with the gross-domestic-purchases price index up 3.3% and core PCE prices up 3.4%. Real gross domestic income also fell 0.2%, and corporate profits reversed sharply, dropping $118 billion after a hefty Q4 increase.

 

 

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