All Articles Tagged - US GDP

US Session – Dollar extends losses against yen after disappointing US GDP

Posted on April 26, 2013 at 8:11 pm GMT

The dollar fell sharply against the yen on Friday, losing 1 percent after extending losses on the back of US GDP numbers missing estimates. Data showed the US economy expanded by 2.5 percent in the first quarter, which was less than the 3.0 percent forecast. The weaker data raised concerns of another year of sluggish growth and spurred fresh bets that the Federal Reserve is unlikely to pull back on quantitative easing in the short term. Focus will now turn [..]

Forex News – Dollar falls after US GDP misses estimates

Posted on April 26, 2013 at 1:13 pm GMT

The dollar fell against the yen after US Gross Domestic Product data disappointed and missed estimates on Friday. First quarter real GDP expanded at 2.5 percent on an annualized basis, lower than forecasts of a 3.0 percent increase. However, this was still higher than last quarter’s meagre 0.4 percent growth. A breakdown of the GDP components were mixed, showing that personal consumption expenditures contributed to growth while cuts in defense spending helped. Consumer spending, the biggest part of the US [..]

European Session – Euro under pressure at $1.30, USD gains ahead of GDP

Posted on April 26, 2013 at 11:53 am GMT

Euro is trading lower on Friday compared to yesterday’s levels against the dollar. Weak euro zone data recently as well as positioning ahead of expected strong US GDP is pressuring euro. Spanish employment data showing a record high jobless rate as well as lower than expected German Ifo business confidence data this week is weighing on the euro. Meanwhile, investors are awaiting the European Central Bank meeting next week to see if there will be a rate cut. EURUSD opened [..]

Forex News – US GDP contracts to worst since 2009

Posted on January 30, 2013 at 9:19 pm GMT

US GDP growth contracted by 0.1 percent in the fourth quarter of last year, to the worst since 2009. The number surprised markets because even though economists did expect growth to be slow, they did not expect a negative number, but had forecast a 1.1 percent growth rate, down from the previous 3.1 percent. This last quarter’s GDP is the worst since 2009. Much of the factor weighing on growth was a large drop in defense spending which fell by [..]

Asian Session – Yen steady vs weak USD ahead Fed

Posted on January 30, 2013 at 7:22 am GMT

Currency markets were quiet during the Asian session on Wednesday ahead of key event risk as the US Federal Reserve completes its two-day policy meeting today. While the FOMC (Federal Open Market Committee) is expected to keep policy unchanged, there has been some concern that FOMC members were “approximately evenly divided” between those who want to end asset purchases (quantitative easing) by June this year and those who want to continue beyond that. Under the current stimulus program (Called QE3), [..]

US Session – Dollar turns back up, fiscal cliff talks in focus

Posted on December 20, 2012 at 8:52 pm GMT

Risk sentiment in the US session saw a pullback on Thursday and the US dollar turned up as investors appeared to be less willing to take on risk amid an apparent deadlock in fiscal cliff talks to avert automatic tax hikes and spending cuts that would take effect in 2013. The White House reported that US President Obama would veto US House Speaker John Boehner’s “Plan B” legislation which is being prepared by House Republicans, designed to avert looming tax [..]

Forex News – Dollar jumps as risk hurt after soft US data

Posted on November 30, 2012 at 2:01 pm GMT

The dollar strengthened sharply against the euro and the sterling after disappointing US economic data hurt risk appetite and increased demand for safe haven currency. US consumer spending and personal income both gave readings lower than forecast for the month of October. American consumers reduced their spending as personal income growth stalls. Data from the US Commerce Department on Friday shows that consumer spending fell 0.2 percent after a 0.8 percent rise in September. This is the first drop in [..]

Forex News – US third quarter growth at 2.7 percent

Posted on November 29, 2012 at 2:14 pm GMT

GDP data showed that the US economy expanded faster than initially estimated at a 2.7 percent annual rate in the third quarter. The increase was helped by a narrower trade deficit and gains in inventory. These overshadowed a drop in consumer spending. According to the US Department of Commerce, the growth pace was much quicker than the 2.0 percent rate the government estimated last month and the best since the fourth quarter of 2011. Business inventories added 0.77 percentage point [..]

US Session – Euro rebounds after US GDP

Posted on October 26, 2012 at 7:42 pm GMT

Euro rebounded in the US session but was flat on the day, closing around the same level it had opened this Friday. After reaching a two week low in European trading, EURUSD rebounded to $1.2933 in early New York trading as risk appetite picked up after US GDP data showed the US economy grew by more than expected in the third quarter. US gross domestic product expanded 2 percent in the third quarter, beating economists’ expectations and up from a [..]

Forex News – US third quarter GDP higher than expected

Posted on October 26, 2012 at 1:06 pm GMT

Market sentiment was lifted after better than expected US GDP data today. The US Department of Commerce data show that the US economy expanded by 2 percent in the third quarter, up from the second quarter’s 1.3 percent pace. The figures beat forecasts for a 1.9 percent growth rate. The accelerated rate of growth was due to a pickup in consumer spending, as well as a housing sector rebound, which overshadowed a drop in business spending and lower trade. However, [..]

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