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US economy grows 3.3% in Q2 vs. 3.1% expected

  • US GDP growth for the second quarter got revised higher.
  • US Dollar Index stays in negative territory at around 98.00.

The United States' Gross Domestic Product expanded at an annual rate of 3.3% in the second quarter, the US Bureau of Economic Analysis (BEA) announced on Thursday. This print came in better than the initial estimate and the market expectation of 3% and 3.1%, respectively.

"Real GDP was revised up 0.3 percentage point from the advance estimate, primarily reflecting upward revisions to investment and consumer spending that were partly offset by a downward revision to government spending and an upward revision to imports," the BEA explained in its press release.

Market reaction

The US Dollar (USD) Index recovered slightly from session lows after the GDP report. At the time of press, the USD Index was down 0.2% on the day at 98.00.

Canada Current Account came in at -21.16B, below expectations (-19.4B) in 2Q

Canada Current Account came in at -21.16B, below expectations (-19.4B) in 2Q
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US: Initial Jobless Claims dropped to 229K last week

According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance fell to 229K for the week ending August 23.
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