US GDP, Core PCE both below expectations – Weekly jobless claims unexpectedly higher
US GDP for Q1 remained unrevised at 1.8% in line with previous but below the expected 2.2%.
US Core PCE for the same period inched slightly lower coming in at 1.4% compared to a previous and expected 1.5 %.
Weekly Jobless claims rose to 424’000 above the expected decline to 404’000 and the previous 414’000 (revised from 409’000). The figures continue to highlight the slow labour market.
Against the Euro the USD lost around 20 pips just after the data was released. Against the JPY the USD lost around 40 pips pushing the USD/JPY towards new daily lows at 81.35.
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