The US released two key indicators, one for Q3 and one for the past week. Â GDP growth for Q3 was significantly revised to the upside: from 2.8% in the initial report to 3.6% now, above expectations of 3%. Jobless claims fell by 23K to 298K, below the psychological line of 300K.
The dollar is higher after these great releases. — updates coming —
A big part of the additional growth comes from inventories though. Nevertheless, there is a better chance that GDP growth will meet the Fed’s estimations of 2.3% – 2.7%.
For the euro, this has little impact. Draghi is relatively calm, and this supports the euro.
There are skeptical views about the strong GDP growth by various analysts. Also jobless claims are doubted due to the Thanksgiving holiday. Nevertheless, most of the data this week has been very positive.
The most important event for the euro is the Non-Farm Payrolls report published tomorrow. See how to trade the NFP with EUR/USD.
