US economy grows 3.3% in Q2 vs. 3.1% expected
Source Fxstreet
- US GDP growth for the second quarter got revised higher.
- US Dollar Index stays in negative territory at around 98.00.
The United States' Gross Domestic Product expanded at an annual rate of 3.3% in the second quarter, the US Bureau of Economic Analysis (BEA) announced on Thursday. This print came in better than the initial estimate and the market expectation of 3% and 3.1%, respectively.
"Real GDP was revised up 0.3 percentage point from the advance estimate, primarily reflecting upward revisions to investment and consumer spending that were partly offset by a downward revision to government spending and an upward revision to imports," the BEA explained in its press release.
Market reaction
The US Dollar (USD) Index recovered slightly from session lows after the GDP report. At the time of press, the USD Index was down 0.2% on the day at 98.00.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The crypto market experienced a significant pullback, Bitcoin (BTCUSD) fell below the key $70,000 mark during intraday trading, triggering short-term stop-loss orders and causing market s
Gold price (XAU/USD) faces some selling pressure near $4,830 during the early Asian session on Thursday.
Today (March 18), WTI crude oil continued to exhibit significant short-term volatility, driven by a tug-of-war between headlines and data. Intraday, prices retreated from Tuesday's high o
Silver (XAG/USD) lacks a firm intraday direction and oscillates in a narrow range during the Asian session on Wednesday as traders opt to wait on the sidelines ahead of the crucial FOMC rate decision.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.00 during the early Asian trading hours on Wednesday. The WTI price climbs amid intensifying Middle East conflict and severe supply disruptions.
