Don’t waste your time – keep track of how NFP affects the US dollar!

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How Much Did the US Economy Grow in Q2?

How Much Did the US Economy Grow in Q2?

Updated

What will happen?

The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29. The data present an annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary gauge of the economy's health. While this is q/q data, it is reported in an annualized format (quarterly change x4). There are three versions of GDP released a month apart – Advance, Preliminary, and Final. The Advance release is the earliest and thus tends to have the most impact.

In the first quarter, the US GDP growth equaled 6.4%, which was lower than anticipated. Investors took this news in a positive way though as they paid more attention to the difference with the Q4 2020 result, which was 4.3%, and 6.4% in Q1, 2021.

How to trade on the US GPD statement?

Traders will want to see whether the actual numbers exceed market expectations or not as this will have the greatest impact on the USD.

  • If the actual GDP data is higher than was expected, the USD will strengthen.
  • If the actual GDP data is lower than it was expected, the USD will weaken.

Instruments to trade: AUD/USD, USD/CAD, NZD/USD.

Check the economic calendar

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