The Q2 GDP data was better than expected. A downward revision of -1.5% was expected, but the seasonally adjusted percentage was -1.0%. The market is looking to return to growth with a 2.2% SAAR for Q3. However, we will see how that plays out, as it would be the first growth quarter after four straight pullbacks in a row.
The market is projecting a 2% growth in Q4, with 2.2% in Q1 2010 and 2.5% in Q2 2010. Analysts expect 2.3% growth for all of 2010. The US Dollar poised just a bit after the data came out, but it remains within the most recent ranges. The correlation between favorable data and a rising US Dollar, has not equated yet. We shall see what transpires when the August jobs data is released next week.
Analysts believe that in the near future, positive data should provide us with a bullish US Dollar, but we are not there just yet, since any positive data to date, has only shown a small spur in the US Dollar.
This entry was posted on Thursday, August 27th, 2009 at 9:36 am and is filed under FX Daily Squawk. You can follow any responses to this entry through the RSS 2.0 feed.
Responses are currently closed, but you can trackback from your own site.
FX Daily Squawk
The Q2 GDP data was better than expected. A downward revision of -1.5% was expected, but the seasonally adjusted percentage was -1.0%. The market is looking to return to growth with a 2.2% SAAR for Q3. However, we will see how that plays out, as it would be the first growth quarter after four straight pullbacks in a row.
The market is projecting a 2% growth in Q4, with 2.2% in Q1 2010 and 2.5% in Q2 2010. Analysts expect 2.3% growth for all of 2010. The US Dollar poised just a bit after the data came out, but it remains within the most recent ranges. The correlation between favorable data and a rising US Dollar, has not equated yet. We shall see what transpires when the August jobs data is released next week.
Analysts believe that in the near future, positive data should provide us with a bullish US Dollar, but we are not there just yet, since any positive data to date, has only shown a small spur in the US Dollar.
This entry was posted on Thursday, August 27th, 2009 at 9:36 am and is filed under FX Daily Squawk. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.