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EUR/USD Signals Bearish Continuation as US GDP Surprises
Today, as we get into the 11/25 session, the EUR/USD is signaling bearish continuation after the release of US GDP data for Q3. The second estimate of US Q3 GDP was stronger than the first “advance” estimate and beat forecasts that called for a slight downwards revision. Q2 data was relatively strong and was revised up from 4.2% to 4.6%. There was a bit of slide in inflation, and the discussion of FOMC’s forward guidance has shifted focus inflation, specifically wage inflation. Therefore, the positive GDP data might not have as much an impact as strong inflation would at this point. Still, it should give the ... (full story)
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