Next week data to be released in the US includes the 2Q GDP report. Analysts at the National Bank of Canada expect growth of around 1.5% annualized. 

Key Quotes:

“The Bureau of Economic Analysis will publish its advance estimate of Q2 GDP growth on Friday. A moderation in growth from the prior quarter – recall the +3.1% growth print in the first quarter ─ is in the cards. That’s because of a likely drag from destocking after three consecutive quarters of inventory accumulation. Trade also probably weigh on growth, as export volumes fell at a faster pace than import volumes did in the quarter. Domestic demand, meanwhile, should remain strong judging from a healthy rebound in retail sales in the quarter. If shipments of non-defense capital goods excluding aircraft are any guide, business investment spending should provide a modest lift to growth as well. Overall, we expect GDP growth of around 1.5% annualized.

“Durable goods orders may have bounced back in June following two consecutive negative prints. That said, the size of the rebound may be limited by still-depressed demand in the civilian airplane segment.”

“The week will provide important information about the housing market in June with the release of data on existing and new home sales. Increases are expected for both indicators on account of lower mortgages rates. Some clues on the state of U.S. factories in July will also be available with the publication of Markit’s flash manufacturing PMI.”

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 surges above 1.1100 as Trump announces steps against China

EUR/USD is trading above 1.1100, up on the day. President Trump said he orders companies to search Chinese imports for drugs. Earlier he criticized Powell's lack of action. 


GBP/USD jumps above 1.2250 on USD weakness

GBP/USD is trading close to the monthly highs above 1.2250 as the US dollar falls following Powell's hint of cutting rates and Trump's angry response. 


USD/JPY plummets to ten-day lows below 106 as Trump goes berserk on Twitter

The USD/JPY came under strong selling pressure in the last hour and erased nearly 100 pips as US President Donald Trump's latest rant on Twitter forced investors to seek refuge and ramped up the demand for safe-haven JPY. 


Gold gains more than $30, eyes 2019 highs on Trump’s tweet

Gold continues to rise sharply amid concerns about the impact of the escalation in the US-China trade war. The demand for safe-haven assets emerged over the last hours, leading to a rally in the yellow metal. 

Gold News

Powell powerless against Trump's trade wars – US braces for recession, USD set to move

"The most powerful central banker in the world" – is how we and others characterize Fed Chair Jerome Powell. While that may be true – monetary policy is reaching its limits – especially in the face of a trade war.

Read more