Attention turns to GDP releases
Friday 28th April
From the US yesterday we saw Core Durable Goods Orders m/m fall more than forecast to -0.2% and Unemployment claims rose unexpectedly to 257K. This poor data did little to impact market movement but will certainly leave the USD susceptible to further weakening today. We have a number of releases from the US today, with Advance GDP q/q to headline proceedings. This figure is due to fall from 2.1% to 1.3%, this slowdown in growth will be the weakest figure in over a year. Following the poor data released yesterday, this decline could see the Dollar retreat going into the weekend. Today’s Advance GDP release is already having an impact on markets.