Better than expected growth in the US: 1.4% in the final read for Q1 2017. This is an annualized figure. Quarter over quarter it is around 0.35%. The upwards revision is mostly due to an upgrade in personal consumption: 1.1% in the final read. The GDP price index was revised down: 1.9% against 2.2%. Also, Core PCE is lower: 2%.
The US dollar ticks up across the board but the moves are minimal.
US jobless claims came out at 244K, very similar to last week’s 242K. Continuing claims remain under 2 million.
The third and final read of US GDP was expected to confirm a growth rate of 1.2% annualized in Q1 2017. In the second read, the number was upgraded from an even worse 0.7% to its current 1.2%. Q2 will probably be better, but not too much.
The US dollar was rising against the Japanese yen but on the back foot against all the rest.
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