Forex news for US trading on April 28, 2016
US GDP came out at +0.5%, lower than the expectations of +0.7%. Personal consumption was better than expectations at +1.9% (vs +1.7%) but less than 4Q 2.4% gains. Business investment was weak. The Core PCE was higher at 2.1% vs 1.9% expectations and that helped the dollar (or prevented a huge sell off). The initial employment claims came in at 257K vs 260K estimate. The employment trends remain positive.
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