BREAKING: EURUSD drops after US Q1 GDP revision

1:32 PM May 25, 2023

Revision US GDP data for Q1 2023 was released today at 1:30 pm BST. Revision showed a positive surprise with annualized Q1 growth coming in at 1.3%, up from 1.1% signalled in flash release. Core PCE was revised higher from 4.9 to 5.0% QoQ. Jobless claims data released simultaneously showed much lower initial claims than expected. Overall, report showed a better picture of the US economy and provided support for the US dollar. This can be seen as a 'hawkish' reaction as equity markets moved lower. Gold slumped below $1,950 per ounce area.

US, GDP report for Q1 (revision)

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app
  • GDP (QoQ annualized): 1.3% vs 1.1% expected

  • Core PCE: 5.0% QoQ vs 4.9% QoQ expected

  • Personal consumption (annualized): 3.8% vs 3.7% expected

Jobless claims report

  • Jobless claims: 229k vs 245k expected

  • Continuing claims: 1794k vs 1800k expected

EURUSD at 5-minute interal. Source: xStation5

​​​​​​​GOLD at 5-minute interval. Source: xStation5


Forex and CFDs are leveraged products and can result in losses that exceed your deposits. Please ensure you fully understand all of the risks.

Losses can exceed deposits