CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

BREAKING: US GDP shrank 32.9% in Q2 2020, Jobless Claims are rising for a 2nd week

13:35 30 July 2020
Long-awaited US GDP report for Q2 2020 was released today at 1:30 pm BST. Data showed that the US economy shrank at an annualized  32.9% QoQ. Market expected a drop of 34.1%.  Private consumption declined 34.6% (exp. -34.5%).
It is the sharpest contraction ever as many companies were forced to close stores and factories due to the ongoing pandemic and many people to stay at home, which negatively affected consumer and business spending.
 
Meanwhile number of Americans filling for unemployment benefits was 1.43  million in the week ended July 25th, after 1.41 million in the previous period, bringing total claims to near 52.14 million since March 21st when the coronavirus pandemic started in the US. Today’s reading came in slightly below market expectations of 1.45 million.
Continuing claims, which lags initial jobless claims data by one week, reach  17.01 million, while analysts expected 16.2 million.
It is the second straight week of increasing initial claims which might be a sign that due to surging number of new COVID-19 cases, the labour market recovery may take much more time than initially expected.

EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.1750 level. Source: xStation5

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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