Preliminary data on the US GDP

• Preliminary data on the US GDP for the 4th quarter did not become a surprise and fully coincided with expectations of 2.5%, thereby confirming fears of slowing GDP growth, but in the margins of the norm.
• The US GDP deflator opposite, in spite of the decline to 2.3%, remains very high, thus having practically no significant impact on the market. Also, do not forget that this is preliminary data.

At the same time, the market remains very optimistic about the US currency in the light of the recent comments of the US Federal Reserve Chairman, who spoke out for the positive dynamics of the country’s economy. Also, worth noting the significant overbought of the American currency against the main competitors, which can cause correction on weak data on the US. The US dollar index is still limited by the resistance zone of 90.60-50, fixation of the price above which will indicate the possibility of further growth of the US dollar.

Graph of the US dollar index. The current price is 90.50.

Hanzenko Anton