- US GDP QoQ Advance Actual 2.8% (Forecast 2.9%, Previous 3%)
- US Core PCE Prices Advance Actual 2.2% (Forecast 2.1%, Previous 2.8%)
The U.S. dollar extended gains following the release of the initial Q2 GDP report, which, despite indicating strong economic growth at 2.9%, fell below expectations.
Preliminary data shows another quarter of strong U.S. economic growth. With such figures, investors aren’t concerned about an impending recession. The dollar is gaining because a strong economy combined with a robust labor market (ADP) increases the likelihood of a hawkish stance from the Fed at its next meeting in November.
EURUSD extends its decline 📉 Are high energy prices weighing on Europe?
Eurozone Manufacturing Shows Slightly Better Final PMI Data 💡
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Economic Calendar - Global series of manufacturing PMI indicators and a marathon of central bankers' speeches