Daily Market Roundup: US ? March 27

Daily Market Roundup: US ? March 27

By: Oliver Miller | Where To Trade | On:27-03-2015 09:53
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Key Highlights

  • US dollar lost the plot and traded lower after the US GDP report missed the expectation.

  • In the US, the Gross Domestic Product Annualized released by the US Bureau of Economic Analysis registered an increase of 0.2% in the fourth quarter of 2014, whereas the expectation was of a 0.1% rise.

  • In terms of the yearly change the US GDP rose by 2.2% in the fourth quarter of 2014, compared to the expectation of 2.4%.

  • US Personal Consumption Expenditures, released by US Department of Commerce registered an increase of 1.1% in the fourth quarter of 2014, compared to the preceding quarter.

Key Releases:

US GDP (US Dollar)

US Personal Consumption Expenditures (US Dollar)

US GDP

Earlier during the NY session, the US Gross Domestic Product, which measures the change in the prices of goods and services was released by the US Bureau of Economic Analysis. The forecast was lined up for an increase of 2.4% in the fourth quarter of 2014, compared to the same quarter a year ago. However, the outcome was not in line with the forecast, as the US Gross Domestic Product increased by only 2.2%. In terms of the quarterly change, the US GDP increased by 0.2% in the fourth quarter of 2014, compared to Q3 2014.

The report stated that the rise in real GDP in the fourth quarter was driven by the positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, exports, state and local government spending and residential fixed investment. Furthermore, the price index for gross domestic purchases posted a decrease of 0.1% in Q4 2014. Moreover, when we exclude food and energy prices, then the price index for gross domestic purchases increase by around 0.7%.

The US Personal Consumption Expenditures was also published around the same time by US Department of Commerce. The market was expecting a decrease of 0.4% in fourth quarter of 2014, compared to the preceding quarter. The end result was in line with the forecast.

Lastly, the real nonresidential fixed investment also posted a rise and gained by 4.7% in Q4 2014, compared with a rise of 8.9% in Q3 2014.

Looking Ahead

The Futures for the Dow Jones Industrial Average the S&P 500 index was broadly unchanged, and the US dollar was seen trading a bit lower later.

The USDCHF pair failed around the 0.9700 area and it looks like set for a test of the recent low of 0.9500.

 

Oliver Miller

Oliver Miller

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