The US GDP data

The publication of data on the US GDP unexpectedly surpassed market expectations and supported the US currency. So, the US GDP for the 4th quarter unexpectedly amounted to 2.9% against the forecast of 2.7%, which corresponds to the best indicator of the current year and indicates the preservation of the upward dynamics of this indicator. Negative factor was the growth of the trade balance deficit to -75.35D. At the same time, the downward dynamics of this indicator slowed significantly.

As a result, the US dollar index received restrained support, which allowed to overcome the level of 89.50, which in the end may indicate the preservation of the upward dynamics of the American and the resistance level test of 89.70. At the same time, the dynamics of the US dollar is limited by the negative sentiment of the market regarding the trade war and the reduction of stock exchanges. Also, the market continues to expect data on real estate sales in the US, which could affect the dynamics of the American.

Graph of the US dollar index. The current price is 89.60.

Hanzenko Anton