This Thursday the Office of Economic Analysis, of the United States Department of Commerce, will report the preliminary GDP for the last month. This will reflect the evolution of the economy for the second quarter. The publication will be at 9.30am GMT-3.
The Gross Domestic Product is presented with three measurements for each quarter, the data that will be published tomorrow will be the second of the second quarter. The previous results have presented a sustained growth rhythm, reporting an increase of 6.4% for the GDP in the first quarter.
The first measurement of the second quarter indicated lower than expected results, with a value of 6.5%. The GDP that will be known tomorrow is projected to be around 6.7%
Tapering plans begin. In Powell’s communication later this week, he is expected to provide further information and indicate next steps. The beginning of the reduction of stimuli is a fact and, after the Jackson Hole symposium, which will bring together officials from central banks from around the world, we will have more guidelines on forms and dates.
Both with the symposium and with the next meeting of the FOMC, between September 21 and 22, the markets will be expectant in the statements they make.
During the current year, the US economy accelerated rapidly, even considering the first quarter GDP results. The challenges continue to be located in the objectives and sustainability of inflation and employment.
The EURUSD closed buy at 1,174. Preference not to buy is maintained.
GBPUSD, closed buy at 1,372. Suggested buys until 1.3755 take profit at 1.3770.