The Gross Domestic Price index for United States was announced by the US Bureau of Economic Analysis. On an annual basis the announced figure of 3.1% met the market expectation of 3.0% and was slightly larger the previous 2.6%. Similarly on quarterly basis the announced figure of 0.4% for quarter 4 was the same as the previous quarter’s reading and as forecasted. Following the news announcement at 12:30GMT the EURUSD pair did not demonstrate any significant volatility as the announced rated were as forecasted
The Gross Domestic Product indicates a monetary value of all the goods and services produced within a country and since it is a gross measure of market activity it is immediately related to economic growth. Usually a high value will be associated with hawkish behavior. The EURUSD pair is currently traded at 1.4126.