US GDP data - Ester Holdings
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US GDP data

  • GDP (q/q) (Q1), fact 3.1%, forecast 3.1%.
  • GDP deflator (q/q) (Q1), fact 0.6%, forecast 0.8%.
  • Initial jobless claims, fact 227K, forecast 220K.

The US GDP for the first quarter fully coincided with expectations. But the deflator indicators and the number of initial applications for unemployment benefits have worsened. Thus, the change in prices of goods and services included in GDP grew less significantly than expected, indicating signs of a slowdown in consumer inflation. A negative factor in the report was also data on applications for benefits, which grew, but correspond to the average value.

Fig. 1. Graph of GDP (q/q) (Q1) USA

 

As a result, data on the United States were restrained negative. But it is worth noting the confirmation of the growth of the US economy, which in the long run can be regarded as a positive signal. Technically, the US dollar index tends to grow on maintaining an uptrend. In the absence of negative statements on the American dollar, it is very likely. The US dollar index is limited to support levels: 96.00 and 95.80, resistances: 96.50 and 96.70.

Fig. 2. The US dollar index chart. The current price is 96.20 (10-year US government bonds yield is the blue line)

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Hanzenko Anton


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