All eyes are on the US GDP report today at 8:30 AM ET, and a weaker reading than expected would have a negative effect on the Dollar to say the least. Preliminary GDP, which was released in May, came in at 1.2%. Meanwhile, the Sterling posted considerable gains Wednesday.
Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. If the Actual turns out to be greater than the Forecast, it means positive for the USD.