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Some bullish data sends the greenback higher

ADP better than estimated and now 3% GDP sends the dollar higherThe US GDP was better. The ADP was better. The dollar is getting bought.The EURUSD has broken below the trend line at 1.1925 currently and the 100 hour MA at 1.1914 and will look toward the 1.1876 level as the next target. That level […]

US Q2 GDP +3.0% vs +2.7% expected

GDP revisions Initial reading was +2.6% Q1 growth was +1.2% Personal consumption 3.3% vs 3.0% expected Prior personal consumption +2.8% GDP price index +1.0% vs +1.0% exp Core PCE +0.9% vs +0.9% So far in 2017, annualized GDP is running at +2.1%. Details: Home investment -6.5% vs -6.8% prior Business investment in structures +6.2% vs […]

The second look at Q2 US GDP is coming up

The initial reading was 2.6% The second look at the second quarter is coming up at the bottom of the hour. There are often big swings in this revision but the consensus this time is for a slight improvement to 2.7%. That said, estimates range from 2.3% to 3.2%. First quarter GDP grew at a […]

EURGBP on the slide and helps to underpin GBPUSD again

A good story unfolding on EURGBP this session 30 Aug Regular readers know I like to keep things simple and the line of resistance at 0.9270 could not be any simpler. No drawn lines needed!                                                         EURGBP 15m We had a look at it earlier in what was possibly a tranche of month-end buying ( BUBA can buy […]