No big surprises in the US GDP read: a small upgrade to 3.1%. The GDP deflator remains at 1%.
The third and final estimate of GDP growth for Q2 was projected to confirm the 3% growth rate that was reported in the second read. The first read stood at 2.6%. All in all, the second quarter was positive and served as a bounce back. The US economy grew by only 1.4% in Q1 and 1.6% during 2016.
The GDP deflator was expected to remain unchanged at 1% and core PCE to be confirmed at 0.9%.
US weekly jobless claims were expected to rise to 270K from 259K last week. Claims were stable for quite a long time, but the recent hurricanes skewed the data.
The US dollar was taking a breather from its rally. Trump’s tax plan is among the reasons for the rally in the greenback.




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