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Dollar Is Gaining on Strong GDP Numbers

September 26, 2014 by

The US dollar returned to its rally versus the single eurozone currency today following the third estimate report on Q2 GDP in the United States. A minor update on the consumer sentiment index did not bother the EUR/USD pair much — it continued to move down.

US GDP rose at an annualized rate of 4.6% in the second quarter of 2014 according to the third estimate report. The value from the second estimate report has been upwardly revised from 4.2%, but did not surprise anyone as the forecasters expected such an increase. The first quarter demonstrated a decline by 2.1%. (Event A on the chart.)

Michigan Sentiment Index was at 84.6 in September according to the final report — the value did not change compared to the preliminary release. Traders expected a slight increase to 84.8. (Event B on the chart.)

EUR/USD - as of 2014-09-26

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