BREAKING: USD drops after weaker US GDP data 📌

01:30 PM GMT, United States - GDP data:

• Core PCE Prices (Q4): actual 2.50%; forecast 2.50%; previous 2.20%;
• GDP Price Index (Q4): actual 2.2% QoQ; forecast 2.5% QoQ; previous 1.9% QoQ;
• GDP Sales (Q4): actual 3.2%; previous 3.3%;
• PCE Prices (Q4): actual 2.3%; previous 1.5%;
• GDP (Q4): actual 2.3% QoQ; forecast 2.7% QoQ; previous 3.1% QoQ;
• Real Consumer Spending (Q4): actual 4.2%; previous 3.7%;

In the fourth quarter of 2024, real GDP grew at an annual rate of 2.3%, slowing from 3.1% in the previous quarter, driven by increases in consumer and government spending but offset by declining investment and exports. Imports, which reduce GDP, also fell. Inflation indicators showed a rise, with the gross domestic purchases price index increasing to 2.2% and the core PCE price index rising to 2.5%.

01:30 PM GMT, United States - Employment Data:

• Continuing Jobless Claims: actual 1,858K; forecast 1,890K; previous 1,900K;
• Initial Jobless Claims: actual 207K; forecast 224K; previous 223K;
• Jobless Claims 4-Week Avg.: actual 212.50K; previous 213.50K;