Preliminary data on US GDP

• US GDP (q/q) is 2.2%, the forecast is 2.3%.
• Change in the number of employed in the non-agricultural sector of the US from ADP is 178K, the forecast is 186K.
• Foreign trade balance of US goods is -68,19D, the forecast is -71,20D.

Preliminary data on US GDP on a quarterly basis did not meet the expectations of the market, continuing to show a slowdown in this indicator since the beginning of the year and thereby exerting pressure on the American. The expectations of the change in the number of employed in the US from the ADP did not meet expectations, which could reduce optimism about the Friday report on employment in the US. The balance of the US trade against the second consecutive month demonstrates a deficit reduction.

Fig. 1. Trade balance

Statistics on the United States was largely perceived positively by the market. Rather, the market completely ignored it after the American’s decline. Weak expectations for employment and GDP of the States can contribute to a further decline in the American, but only with the support of the stock exchanges in America. The US dollar index continues to be limited by the lower border of the uplink 94.20-00. The positive start of the Wall Street stock indices will put pressure on the dollar, but in conditions of the American oversold it will not be a continuous decline.

Fig. 2. The graph of the US dollar index. Current price – 94.30

Also, read: “Moving Averange as an indicator of the strength of the trend”

Hanzenko Anton