When is US GDP and how could affect USD/JPY?

Pablo Piovano FXStreet

The US Bureau of Economic Analysis will publish its second revision of the US GDP figures for the January-March period. Market consensus now expects the economy to expand at an annualized 0.9%, up from the 0.7% expansion seen in the previous gauge.

Today’s event seems to have grown in importance following Wednesday’s FOMC minutes, where the Committee argued that further evidence is needed in order to determine the ‘temporary’ slowdown in the period.

Regarding FX, USD/JPY is trading sharply lower in the 111.00 neighbourhood, down around a cent since tops near the 112.00 handle seen during early trade. A positive reading today should have a positive impact on US yields, particularly on the 10-year reference, helping spot to regain some buying interest and put further distance from lows in sub-110.00 levels.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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