The advance determine (first estimate) of Q3 US GDP got here in at 2% after expectations of two.7% proved barely optimistic.
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The decrease than anticipated determine has been attributed to slower shopper spending as authorities help funds to companies, state and native authorities and households all decreased.
Supply: US Bureau of Financial Evaluation
The information comes off the again of the Q2 print of 6.7%. The rise in second quarter GDP mirrored the continued financial restoration, reopening of institutions, and continued authorities response associated to the COVID-19 pandemic.
The preliminary response to within the US dollar noticed barely decrease costs however nothing exterior of the every day vary.
US Greenback Index 15 Minute Chart
Chart ready by Richard Snow, IG
— Written by Richard Snow for DailyFX.com
Contact and observe Richard on Twitter: @RichardSnowFX