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The US economy did better than expected in Q1

The US GDP numbers for Q1 were released a while ago and they beat the expectations. The last estimate was 0.8% but this final estimate came out at 1.1% against 1.0% expected. That's not a bad number considering the slowdown that the US economy went through the Q1 period and with all the global financial turmoil. 

But that's the main number because the looking at the details the picture is sort of mixed. The inflation was revised down to 2.0% versus 2.1% prior while the personal consumption fell to 1.5% against 2.0% expected and 1.9% prior. This is the preferred number for the FED so it might have an impact on their monetary policy. 

That said, the forex market is focusing on the main headline number and is ignoring the mixed details. The numbers that pushed the GDP up were the sales which came out at 1.3% against 1.0% prior and the corporate profits which made a huge jump from 0.6% to 2.2%. That's going in favour of our forex signal since we have a GBP/USD and a EUR/USD sell signal.  

 

 

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Skerdian Meta
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Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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