BREAKING: US Q3 GDP beats expectations

The US GDP report for Q3 2022 showed economic growth beating expectations. The US economy grew at an annualized pace of 2.6% while median consensus pointed to a 2.4% growth. However, durable goods orders data for September released simultaneously surprised to the downside with headline order growth coming in at 0.4% MoM (exp. 0.6% MoM). Ex-transportation orders dropped 0.5% MoM while market expected 0.2% MoM increase. US equity index futures moved higher on the news while EURUSD tried to reclaim 1.00 mark below which it dropped in the aftermath of ECB decision.

US500 jumped after better-than-expected Q3 GDP reading from the United States. Source: xStation5