We’re still three months away from the first reading on Q4 GDP so I wouldn’t get too excited as the latest tracker has moved up to 2.1% from 1.2%.
After recent releases from the US Census Bureau, the Institute for Supply
Management, the US Bureau of Labor Statistics, and the US Bureau of
Economic Analysis, the nowcasts of fourth-quarter real personal
consumption expenditures growth and fourth-quarter real gross private
domestic investment growth increased from 1.5 percent and -2.8 percent,
respectively, to 2.6 percent and -1.0 percent, while the nowcast of the
contribution of the change in real net exports to fourth-quarter real
GDP growth decreased from 0.22 percentage points to 0.04 percentage
The US dollar will have a lot going for it if Q4 GDP is up more than 2%.
This article was written by Adam Button at www.forexlive.com.