Forex Trading News - US GDP Quarter over Quarter Forecast

The GDP quarter over quarter came in significantly better than expected at 3.3% versus the 2.7% survey and the 1.9% reading the prior quarter.

The Personal Consumption indicator was also better than expected at 1.7% versus the 1.6% estimate. Exports were revised up (+13.2% versue +9.2% in earlier report) while imports were revised lower (-7.6% versus-6.6%).  Imports subtract from GDP.  Inventories were also revised higher.  The Core PCE came in on the number at 2.1%.

Overall this is a very positive report for the USD and it has reacted appropriately getting bid against most of its counters.