This afternoon’s publication of the US’s final gross domestic product (GDP) and GDP Price Index suggests that forecasts for both are largely on track. While digesting news about durable goods orders and assessing risk sensitivity, many investors found in today’s GDP reports an added reason for optimism ahead of this week’s close.
Considering the marked decline in manufacturing across the US and Europe, and factoring in expectations for a weak second quarter, the spot on growth forecast of approximately 2% for US GDP may in fact help several investors choose risk over caution in the next week or two, helping the ailing economies of the Western world make a modicum of gains going into the early summer months.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
