BREAKING: US GDP shrank 4.8% in Q1 2020

Long-awaited US GDP report for Q1 2020 was released today at 1:30 pm BST. Data showed that the US economy shrank at an annualized 4.8% QoQ. Market expected a drop of 4%. Private consumption declined 7.6% (exp. -3.6%). The US dollar weakened in a knee-jerk move but the scale of a move was not too big. It is hard to determine the reaction of the stock market as it began to surge just minutes before GDP release on rumours that Gilead Science coronavirus drug is actually effective.

We have one more big event scheduled for today - FOMC decision at 7:00 pm BST. No change to the level of rates is expected but the press conference of Chairman Powell (start at 7:30 pm BST) will surely cover issues like negative rates or asset purchases.

EURUSD made a failed attempt of breaking above the downward trendline yesterday. However, weak US GDP reading could encourage bulls to make one more try. Source: xStation5

15 October 2025, 10:45 AM

Fed Collins remarks on monetary policy and US economy🏛️EURUSD gains 0.2%

15 October 2025, 10:27 AM

IMF raises its global growth outlook, supported by the AI-driven investment boom 🔎

15 October 2025, 10:05 AM

BREAKING: Sales and retail production from Europe above expectations! 📈

15 October 2025, 8:48 AM

Economic calendar: Inflation in Europe, Fed speeches and more bank earnings (15.10.2025)

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BREAKING: US GDP shrank 4.8% in Q1 2020

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