Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Economic Indicator

US real GDP expands 1.3% in first quarter vs. 1.6% in first estimate

Source Fxstreet

The BEA revised Q1 US GDP growth lower to 1.3%.
US Dollar Index stays in negative territory below 105.00.

The US' real Gross Domestic Product expanded at an annual rate of 1.3% in the first quarter, the US Bureau of Economic Analysis' (BEA) second estimate on Thursday. This reading followed the 1.6% growth recorded in the first estimate and came in line with the market expectation.

"With the second estimate, downward revisions to consumer spending, private inventory investment, and federal government spending were partly offset by upward revisions to state and local government spending, nonresidential fixed investment, residential fixed investment, and exports," the BEA explained. "Imports were revised up."

Market reaction

The US Dollar (USD) came under bearish pressure with the immediate reaction. At the time of press, the USD Index was down 0.3% on the day at 104.80.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.

Author Beincrypto

Dec 17, 2024

Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.

Analyst Flags XRP as Market’s ‘Best Risk/Reward’ Play as Token Tests Critical $1.60 Support Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.

Author Mitrade

Feb 03, Tue

Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.

Ethereum Price Forecast: ETH faces heavy distribution as price slips below average cost basis of investors Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.

Author FXStreet

Feb 05, Thu

Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.

Bitcoin Drops to $70,000. U.S. Government Refuses to Bail Out Market, End of Bull Market or Golden Pit? The U.S. government refuses to bail out Bitcoin, and with Fed rate cuts nowhere in sight, a continued downward trend to test for a bottom is likely after a brief rebound.During the mid-da

Author TradingKey

Feb 05, Thu

The U.S. government refuses to bail out Bitcoin, and with Fed rate cuts nowhere in sight, a continued downward trend to test for a bottom is likely after a brief rebound.During the mid-da

Bitcoin Surrenders $65,000 as Analysts Warn of ‘Structural’ Market Break Bitcoin plunges 11% to break $65k as analysts term the crash "structural," citing a $1 trillion market wipeout and $2.09 billion in daily liquidations.

Author Mitrade

Feb 06, Fri

Bitcoin plunges 11% to break $65k as analysts term the crash "structural," citing a $1 trillion market wipeout and $2.09 billion in daily liquidations.

Popular Symbols