29 Aug 2013
Flash: GPD revision affirms Fed taper in September – DailyFX
FXstreet.com (Córdoba) - Christopher Vecchio, Currency Analyst at DailyFX, comments on the Fed QE3 Tapering.
Key Quotes
"The headline 2Q’13 GDP figure was revised higher to +2.5% from +1.7%, beating expectations and settling fears that the world’s largest economy slowed into midyear”.
“With the US economy growing in line with the Federal Reserve’s forecasts from June, there is reason to believe that the Fed will move ahead with its plan to reduce the pace of QE3 next month”.
“Coming in at 331K, Initial Jobless Claims slightly beat estimates of 332K. In a market where participants are judging all data in the context of an upcoming Fed taper, better prints (fewer claims) suggest that a reduction in asset purchases is likely and therefore is supportive of the US Dollar going forward".
Key Quotes
"The headline 2Q’13 GDP figure was revised higher to +2.5% from +1.7%, beating expectations and settling fears that the world’s largest economy slowed into midyear”.
“With the US economy growing in line with the Federal Reserve’s forecasts from June, there is reason to believe that the Fed will move ahead with its plan to reduce the pace of QE3 next month”.
“Coming in at 331K, Initial Jobless Claims slightly beat estimates of 332K. In a market where participants are judging all data in the context of an upcoming Fed taper, better prints (fewer claims) suggest that a reduction in asset purchases is likely and therefore is supportive of the US Dollar going forward".