- The US BEA revised Q1 GDP higher to 1.3% from 1.1%.
- US Dollar Index stays in positive territory above 104.00.
The real Gross Domestic Product (GDP) of the US expanded at an annualized rate of 1.3% in the first quarter, the US Bureau of Economic Analysis' (BEA) second estimate showed on Thursday. This reading came in above the advance estimate and the market expectation of 1.1%.
"The increase in real GDP reflected increases in consumer spending, exports, federal government spending, state and local government spending, and nonresidential fixed investment that were partly offset by decreases in private inventory investment and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased," the BEA explained in its publication.
The US Dollar preserves its strength after this report and the US Dollar Index was last seen gaining 0.22% on the day at 104.12.
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Follow us on Telegram
Stay updated of all the news
EUR/USD clings to small daily gains above 1.0700
EUR/USD has lost its traction after having climbed toward 1.0750 earlier in the day but managed to stabilize above 1.0700. Mixed performance of Wall Street's main indexes following the consumer confidence data helps the US Dollar hold its ground and caps the pair's upside.
GBP/USD retreats below 1.2400 as US Dollar rebounds
GBP/USD has retraced a small portion of its daily rally and declined below 1.2400 in the American session on Tuesday. Following a bullish start to the day, major equity indexes lost traction and helped the US Dollar stage a rebound while weighing on the pair.
Gold: XAU/USD retakes $1,950 as investors hesitate Premium
Gold price has posted a nice comeback after bottoming for the day at $1,932 a troy ounce, now trading near a daily high of $1,963.48.
Bitcoin whales could prevent BTC price first monthly loss of 2023 through this move
Bitcoin price is inching towards the first monthly loss of 2023. At press time, BTC price is 4.4% below $29,233, its price on May 1. If BTC fails to regain lost ground, the asset is in for its first monthly loss of the year.
Tesla Stock News: TSLA breaks above $200 as Elon Musk visits China
Tesla (TSLA) stock has overcome a major psychological barrier to start the week with shares overcoming the $200 level early Tuesday. A number of tailwinds are aiding the growth stock, which has gained 4.4% to $201.67 in the premarket.