GDP Confirms Market Call...

EURGBP Cross & USD Index

The 2Q U.S. GDP report bested market expectations with a 2.5% figure that served as the main fundamental catalyst for a much needed rally for the U.S. dollar. This annualized figure have beaten the 2.2% general forecast survey versus the 1.7% previous actual data which provided a better growth pace contrary to what the market have anticipated.

However, there still exists some valid arguments amongst some FED central bank members regarding the tapering schedule during their next 2 days September meeting. As the recent GDP figure can be interpreted in such a way that a much better economic recovery would be insight for the last quarter of 2013. And this is how a fundamentally oriented market moves when actual market data beats forecast coupled with volume trading supporting price action, particularly the USD Index. On the other hand, a careful watch should be taken serioiusly as to the Syrian crisis that may escalate more than any arguments since France have shown their intentions contrary to the no confidence vote in the Bristish parliamentary.

GDP Confirms Market Call:..