Preliminary U.S. GDP data
- GDP (q/q) (Q3), fact 3.5%, forecast 3.3%.
- GDP deflator (q/q) (Q3), fact 1.4%, forecast 2.1%.
Preliminary data on US GDP for the 3rd quarter were very ambiguous. US GDP growth is expected to be quite significant at 3.5%, while the GDP deflator has declined significantly, indicating the possibility of a slowdown in inflation. The main indicator – GDP growth was more than positive, supporting the American currency.
Fig. 1. U.S. GDP chart
The US dollar index reacted restrained to preliminary data on the US GDP. An ambiguous report on GDP may increase pressure on the American dollar against the background of recovery in stock indices and overbought on the dollar . In this case, the trading range remains in force. Support levels: 96.50 and 96.30, resistance: 97.00.
Fig. 2. The US dollar index chart. Current price – 96.70 (10-year government bond yield – blue line)
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Hanzenko Anton
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