The main currency pair is trading to the downside on Wednesday evening after the USA reported on the GDP.
On Wednesday evening, the EUR/USD started falling. The current quote for the instrument is 1.1830.
Investors are responding to the first estimation of the US GDP in the third quarter of 2017. According to the report published today, the country’s economy expanded by 3.3% q/q after adding 3.0% q/q in the second quarter and against the expected reading of +3.3% q/q.
The PCE Prices and the Core PCE Prices expanded by 1.5% q/q and 1.4% q/q respectively in the third quarter and matched expectations as well.
So, despite the “hurricane season”, which mostly took place in the third quarter, and short-term declines in different sectors of the economy, from production and manufacturing to consumers, the US economy is feeling fine. The USD liquidity-absorbing operations, which are supported by the U.S. Department of the Treasury and the Federal reserve, hasn’t produced a proper effect, but they don’t have to. May be by the end of the year they will.
Later in the evening, one should pay attention to the speech of the Federal Reserve Chairwoman, Janet Yellen. So far, the USD has an advantage.
RoboForex Analytical Department