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Where is the US growth coming from?

It seems that inventory growth has managed to add +0.32% to Q2 GDP growth. However, with consumer spending slowing and government outlays seen dropping, this scenario is managing to paint a picture of a recovery now struggling with too little demand and represents the beginning of slower production cycle. Exports are the sole bright spot for the US, rising for a third consecutive quarter despite what is played out across the Atlantic. With the current global data consistently showing sign of slowing down, the market now expects the Fed to move towards QE3. Will it be next week or September? With Ben hinting that the he and his fellow policy makers could take further action when needed is probably the green light for dollars fall and end of this rally.

Below are some other highlights of the week:



EUROPEAN Week in FX [1]

ASIA Week in FX [2]



  • Monetary Policy meetings from GBP, USD and EUR dominate
  • Confidence data is delivered from USD and NZD
  • Manufacturing and non along with PMI’s are released in CNY, EUR, GBP and USD
  • Sales, growth and trade are presented from CAD, AUD and CHF
  • AUD and GBP release building stats
  • USD finishes the week with employment


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell [7]

Vice-President of Market Analysis at MarketPulse [8]
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell
Dean Popplewell

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