When is the preliminary US GDP report and how could it affect EUR/USD? GDP UnitedStates Macroeconomics Majors
ansion of the US economy at an annualized rate of 2.6%, as per market expectations, after the 3.2% expansion recorded in the third quarter's GDP report.
Yohay Elam, FXStreet Senior Analyst believes US Gross Domestic Product data will come out better than expected: “Economists expect the first release of output figures for the latter quarter of 2022 to show an annualized expansion of 2.6%, slower than the 3.2% clip recorded in the three months ending in September. There are three reasons to expect a better outcome – Atlanta Federal Reserve estimates presenting a rosier picture, falling inflation and the Chinese re-opening effect.
Meanwhile, the backwards-looking data might do little to influence market expectations about the Fed's next policy move or provide any meaningful impetus to the Greenback. That said, an upward surprise of the US GDP print could revive bets for a prolonged policy tightening by the Fed and prompt some near-term short-covering around the USD.
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