US Dollar Falls After GDP Meets Expectations

The dollar dipped and Treasuries gained after data showed the U.S. economy expanded at a pace just shy of economists’ expectations in the second quarter. American equity futures pared gains.

U.S. GDP grew by 4.1 percent at an annualized rate in the three months through June, after President Donald Trump earlier predicted the data would show the U.S. economy in “terrific” shape. Futures on the S&P 500 and Nasdaq pointed to a marginally lower open after Twitter Inc. and Exxon Mobil Inc. reported disappointing earnings. The Stoxx Europe 600 Index headed for its best week in almost two months as banks and telecommunications firms gained. The euro slipped after disappointing economic data from France.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
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