Both the U.S. dollar and the British pound boosted from the positive economic updates for their economies, while the euro was mixed, expecting Eurozone’s CPI report that will be published today. The U.S. GDP outperformed, showing an economic growth of 3% in Q2 versus 1.2% the prior quarter and ADP reached a five-month high.
U.S. Economy Grew at the Highest in 2-Years
The U.S. dollar soared versus all the majors on Wednesday and early Thursday on the back of strong data. The ADP employment change jumped to the highest print in five months at 237K in August, signalling that the U.S. jobs report tomorrow will be also strong. The non-farm payrolls are expected to show that economy added 180K jobs in August versus 209K the previous month. Furthermore, the second estimate for the annualized GDP picked up to the strongest growth in Q2 since the first three months of 2015 at 3.0% above market forecast of 2.7% and 1.2% the previous quarter. It’s worth to mention that the first estimate was 2.6%.
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