The Currency Scene:
News, Events, and Stories about currency from around the world.

- Advanced 1Q U.S. Gross Domestic Product (GDP) to Show Growth Rate Slowing to Annualized 2.0% from 2.9%. Core Personal Consumption Expenditure (PCE) to Climb to 2.6% from 1.9%.

- EUR/USD[1] Clears March-Low (1.2155) as Bearish Sequence Unfolds. Relative Strength Index (RSI) Slips Towards Overbought Territory.

Trading the News: U.S. Gross Domestic Product (GDP)

DailyFX Calendar

Updates to the U.S. Gross Domestic Product (GDP) report may curb the recent weakness in EUR/USD as the growth rate is anticipated to slow to an annualized 2.0% from 2.9%.

Bear in mind, market participants may put greater emphasis on the core Personal Consumption Expenditure (PCE), the Fed’s preferred gauge for inflation, as the reading is projected to increase 2.6% during the first three-months of 2018, which would mark the fastest pace of growth since 2007. Signs of heightening price pressures may ultimately trigger a bullish reaction in the U.S. dollar[2] as it puts pressure on the Federal Open Market Committee[3] (FOMC) to extend the hiking-cycle.

However, a series of below-forecast data prints may sap the appeal of the greenback, and EUR/USD may stage a near-term rebound as market participants scale back bets for four Fed rate-hikes in 2018.

Impact that the U.S. GDP report has had on EUR/USD during the previous quarter

Period

Data Released

Estimate

Actual

Pips Change

(1 Hour post event )

Pips Change

(End of Day post event)

4Q A

2017

01/26/2018 13:30:00 GMT

Read more from our friends at Daily FX:

Pin It

The Logo Story

currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

Visit the CurrenScene Media Page