The data on U.S. GDP for the third quarter is just published. The 2% growth shows modest but sustained recovery in the world's largest economy just few days before the presidential election.
The first impact, as reflected in the Dow Jones index futures was very positive. It left its quote, in principle, the uptrend line in weekly chart of 13 months, and the breakdown could mean a change in direction of the index in the medium term.
Also, the data favored, at least in the minutes after publication, to the European currencies. They are mixed against the dollar.
While the euro plummets and touched 1.2880 the British pound is reaching highs of several days, driven by the first positive UK GDP in four quarters published on Thursday.
However, today's data could unify the behavior of leading currencies against the dollar, which in turn, would fall in good shape in the American session if, as expected, NYSE actions take bullish strength.
However, as shown and as has occurred throughout this month, the prices of the major pairs move very cautiously, in very narrow ranges, giving good opportunities in the short term, but longer trends jolting.
The consumer confidence data issued by the University of Michigan will be published at 9:55 shaping trends that are likely to begin to take shape with the opening bell for the U.S. trading session.
The material has been provided by Instaforex Company - instaforex.com
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