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EUR/USD Recovers as US GDP Slows in Q4

March 27, 2015 by

EUR/USD was falling in the first half of the current trading session but recovered after a final estimate of US gross domestic product confirmed that US economic growth slowed in the last quarter of the previous year. As of now, the currency pair trades slightly above the opening level.

Growth of US GDP was at 2.2% in Q4 2014 according to the third and final estimate, unchanged from the preliminary estimate. The actual rate of growth was smaller than the 5.0% in Q3 and a bit below the analysts’ projections of 2.4%. (Event A on the chart.)

Michigan Sentiment Index was at 93.0 in March according to the final revision. It was a drop from the February’s level of 95.4 but at least higher than the preliminary estimate of 91.2 and the forecast figure of 92.5. (Event B on the chart.)

Yesterday, a report on initial jobless claims was released, showing a drop from 291k to 282k last week while experts have predicted the indicator to stay at the same level. (Not shown on the chart.)

EUR/USD for 2015-03-26

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