Preliminary US GDP data

• GDP (q/q) (Q2), fact 2.1%, forecast 1.8%.
• GDP deflator (q/q) (Q2), fact 2.5%, forecast 1.9%.

Data on the US GDP for the second quarter were significantly better than forecasts. In addition to the growth in GDP, which slowed down the decline, it is also worth noting the GDP deflator indicators, which indicate an increase in consumer inflation. He retreated from four-year lows.

Fig. 1. U.S. GDP deflator (q/q) (Q2) USA

Thanks to published data, the US dollar accelerated growth against a basket of competitors, but still continues to be limited by overbought and expectations of the results of the US Federal Reserve meeting. Therefore, the US dollar index will be limited in growth by resistance levels: 98.00 and 98.20. Support is located on the marks: 97.80 and 97.70.

Fig. 2. The US dollar index chart. The current price is 97.90 (10-year US government bonds yield is the blue line)

Read also: “Moving Average 
as an indicator of determining the strength of the trend”

Hanzenko Anton

---

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. The risks of a trade war are back
2. Expectations from the July Fed meeting
3. How real is the currency intervention in the US

Current Investment ideas:

1. Make Money on Intel Shares Growth!