GDP Sales q/q comes in at 2.2% against 2.2% consensus

The latest GDP Sales q/q data for the United States, released today, showed a print of 2.2%. This figure precisely matched the market consensus expectation of 2.2%. The previous quarter’s reading was also 2.2%, indicating no change from the prior period. The surprise against consensus was 0.0%.

Following the release, the US Dollar showed a mixed but generally muted reaction against major currencies over the initial 15 minutes. AUDUSD moved -7.2 pips, EURUSD -9.1 pips, GBPUSD -16 pips, and NZDUSD -9.9 pips. Conversely, USDCAD gained +6.6 pips, USDCHF rose +8.5 pips, and USDJPY advanced +17 pips. Gold, XAUUSD, declined by -64 pips. When compared to historical median 1-hour moves, which typically range from 8 pips for AUDUSD to 39 pips for XAUUSD, the initial 15-minute market reaction was relatively small for most pairs. GBPUSD’s -16 pips move matched its median 1-hour move of 16 pips, while USDJPY’s +17 pips exceeded its median 11 pips move. XAUUSD’s -64 pips move was also larger than its median 39 pips move.