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Global Indices Rise on US Delay on Syria and US GDP Upward Revision

Strong growth in the U.S. economy and signs of a delay in expected Western military strikes on Syria lifted world share markets on Thursday, but investors were on edge over potential future turmoil in the Middle East.

The American economy grew faster than expected in the second quarter, new data showed, and weekly claims for unemployment fell, bolstering the case for the Federal Reserve to begin winding down its massive economic stimulus program.

Wall Street stocks were set to gain on the data when trading opens, while the dollar extended its gains against a basket of major currencies to reach a three-week high .DXY.

But hard-hit emerging currencies in India, Brazil and Indonesia were firmer against the greenback as their central banks moved to stem capital outflows.

via Reuters [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza