Preliminary data on US GDP - Ester Holdings
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Preliminary data on US GDP

  • US GDP (q / q),  fact  4.1%,  forecast 4.1%.
  • The US GDP deflator (QoQ),  fact 3.2%,  forecast 2.3%.

Expectations for preliminary data on US GDP have surpassed themselves to a greater extent, but have hardly affected the dynamics of the American dollar, which is caused by the coincidence of the main indicator with the forecast for GDP, which has already been taken into account by the price.

Fig. 1. US GDP Chart

 

The US dollar index, in spite of optimistic expectations, is limited by overbought. It is also worth noting that today is the end of the week, which can also strengthen the correction of positions on the dollar after growth, thereby limiting the dynamics of the dollar.

A significant resistance level for the US dollar index is the 95.00 mark. Support is located at the levels: 94.80 and 94.60, which is likely to be limited to daily correction.

Fig. 2. The US dollar index chart. The current price is 94.80 (10-year government bonds yield is a blue line)

 

Read also: “Fibonacci clusters – the subtleties of use”

Hanzenko Anton

 

 

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