US GDP q/q comes in at 2.2% against 1.5% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The US Gross Domestic Product for the third quarter came in at 2.2%, significantly above the consensus forecast of 1.5%. This marks a substantial positive surprise of 46.7% compared to expectations. The previous quarter’s GDP reading was also 1.5%.
Following the release, the US Dollar showed broad weakness against major currencies. AUDUSD rose 14 pips within 15 minutes, while EURUSD gained 15 pips and GBPUSD moved up 15 pips. NZDUSD saw a 13 pip increase. Against the Canadian Dollar, the USD lost 20 pips, and against the Swiss Franc, it fell 17 pips. USDJPY declined by 25 pips. Gold, XAUUSD, reacted with a significant gain of 207 pips. Compared to historical top-quarter moves, the reactions in AUDUSD, NZDUSD, and XAUUSD were notable, exceeding or nearing their respective thresholds of 14+ pips, 14+ pips, and 76+ pips. Moves in EURUSD, GBPUSD, USDCAD, USDCHF, and USDJPY were below their typical top-quarter thresholds of 18+ pips, 27+ pips, 23+ pips, 18+ pips, and 28+ pips respectively. Historically, EURUSD direction reliability after similar releases stands at 56%.