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Dollar slides and the rebounds after US Q1 GDP misses estimates and here is why
The US Q1 GDP data has just hit the screens and it has badly missed on estimates. GDP rose by an estimated 1.6%, which was way lower than the 2.5% expected and well below the rate of growth in Q4 2023. This is the first estimate for US Q1 growth and as such open to revision in the weeks ahead. The GDP price index was higher though, at 3.1%. Core prices rise by even more, at 3.7%, where a 3.4% rise was forecast. The dollar has lurched lower initially on this news, but it is rising back now as US yields rise again. The EUR/USD is now trading back below the 1.0700, from an initial spike to just above 1.0740
Market News
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Nasdaq 100 opens in the red
The US stock markets have just reopened and that opening has seen losses across all three major indexes. Of course that was always going to be the... -
US stock futures turn lower again- S+P 500 falls to indicate an opening close to 5,600
The US equity markets will soon reopen and it is not looking like a very positive start to the final session of the week. The Nasdaq 100 is now priced... -
USD/JPY drops back to test 149 as US yields slip
The USD/JPY has been tracking lower for the past hour and it has now fallen close to the 149 handle in the process setting a fresh European session...
