Breaking: US GDP beats with 2.6%, USD moves up

The US economy grew at an annualized pace of 2.6% in Q4 2018, slightly better than expected. For the full year, the economy grew by 3.1%, a healthy rate.

Personal consumption, the most important component, rose by 2.8%. The Core PCE stood at 1.7%. 

All in all, a slight beat and the US Dollar rose. EUR/USD dropped below 1.1400 on the news, retreating from the three-week highs.

Join our live GDP coverage

EURUSD down on US GDP February 28 2019

The US was expected to report an annualized GDP growth rate of 2.3% in the fourth quarter of 2018, slower than 3.4% in the final read for Q3. The publication has been delayed due to the government shutdown, the longest in history.

The plunge in retail sales in December caused quite a few economists to raise their eyebrows and made predicting the GDP data harder.

Apart from the GDP data, initial jobless claims are due at the same time. 

Earlier, markets focused on the unsuccessful Kim-Trump summit in Hanoi, Vietnam. Trade talks between the US and China and 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: 50-day SMA restricts immediate recovery

EUR/USD buyers look for confirmation, despite recent bounce, as prices still trade below the near-term key moving average, around 1.1025, during early Friday.


GBP/USD: On the bids above 100-bar SMA

GBP/USD holds on to recovery gains from 50% Fib retracement level while taking the bids to 1.2885 during the early Asian. Bullish MACD indicates pair’s another run-up to the short-term key resistance line.


USD/JPY extends the bounce above 108.50 on rising trade deal hopes

The USD/JPY pair extends its bounce from eight-day lows of 108.25 in Friday's Asian trading, with the bulls regaining control above 108.50 after White House Economic Adviser Kudlow's comments bolstered US-China trade deal hopes. 


Gold awaits clear direction around $1470 amid risk reset

With the fresh optimism surrounding the US-China trade accord, Gold prices struggle to extend the previous recovery while taking rounds to $1,471 amid Friday’s initial Asian trading session.

Gold News

US China trade and the global economy: Q&A with FXStreet senior analyst

After the meetings in October it was unclear if the new levies planned for December would be called off. And now, reports suggest that past duties may be removed. All in all, a positive development, isn't it?

Read more