USD pairs: US Q2 GDP final 2.2% beats 1.5% estimate as price gauges cool
The source reports no price move, pip figure, specific currency pair or technical levels. The final reading of US Q2 GDP came in at +2.2%, above the 1.5% estimate cited in the headline and unchanged from the previous estimate of +2.2%. Consumer spending was revised up to +3.8% from +3.4%. Inflation components were softer than expected. The GDP deflator printed +6.1% against +6.4% expected and the prior +6.4% estimate. Core PCE prices rose +3.3% versus +3.6% expected. For the US dollar, the release is mixed. Headline growth and stronger consumer spending point to firmer activity, while the cooler deflator and core PCE readings suggest softer inflation than forecast. Because core PCE is a closely watched inflation gauge, traders may weigh the upside growth surprise against the downside inflation surprise when judging the Federal Reserve's policy outlook and positioning in USD pairs.
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