Back
26 Apr 2013
Session Recap: USD falls weaker than expected US GDP data
FXstreet.com (San Francisco) - The greenback traded on Friday on wait and see mode after US GDP but before next week central banks meeting. Dollar Index retreated for the third consecutive session. The US GDP data disappointed traders after expanding 2.5% in the Q1 vs the 3.0% estimated. The data released by the US Bureau of Economic Analysis was the first preliminary. The GDP eclipsed the advance in the Consumer sentiment to 76.4.
In the European side, Spanish government approved a battery of new austerity measures and informed that the kingdom will delay the deficit goal for two years in accordance with EU agreements. The Rajoy's government now sees the economy contracting 1.3% in 2013. After being questioned by journalist about the austerity measures and the results in the economy such as 27.2% unemployment, the government spokesman blamed it on Brussels' politicians.
The EUR/USD traded sideways around the 1.3000; The Sterling continues with its post-UK-GDP advance and it rose to the 1.5500 level. The USD/JPY declined from 99.40 to the 97.60 area after a lackluster BoJ meeting.
Main headlines in the American Session
US: GDP expanded 2.5% YoY in Q1
Forex: EUR/USD climbed to 1.3040 on US GDP
Germany assures it has no intention of influencing ECB’s monetary policy decision
American equity markets a mixed bag at opening
US: Reuters/Michigan Consumer Sentiment beats consensus and jumps to 76.4 in April
Spanish given extension to reduce debt
Schaeuble says debt mutualization would lead to a German downgrade
Germany to agree with Spain on a program to boost growth
Wall Street closes mixed but with weekly gains
In the European side, Spanish government approved a battery of new austerity measures and informed that the kingdom will delay the deficit goal for two years in accordance with EU agreements. The Rajoy's government now sees the economy contracting 1.3% in 2013. After being questioned by journalist about the austerity measures and the results in the economy such as 27.2% unemployment, the government spokesman blamed it on Brussels' politicians.
The EUR/USD traded sideways around the 1.3000; The Sterling continues with its post-UK-GDP advance and it rose to the 1.5500 level. The USD/JPY declined from 99.40 to the 97.60 area after a lackluster BoJ meeting.
Main headlines in the American Session
US: GDP expanded 2.5% YoY in Q1
Forex: EUR/USD climbed to 1.3040 on US GDP
Germany assures it has no intention of influencing ECB’s monetary policy decision
American equity markets a mixed bag at opening
US: Reuters/Michigan Consumer Sentiment beats consensus and jumps to 76.4 in April
Spanish given extension to reduce debt
Schaeuble says debt mutualization would lead to a German downgrade
Germany to agree with Spain on a program to boost growth
Wall Street closes mixed but with weekly gains