US QoQ GDP growth is expected to fall to 1.1%
Although the latest Federal Reserve meeting minutes highlighted US economic resilience in banking, industrial production, and employment, Mitrade expects quarter-on-quarter growth for its GDP will fall from 2.6% to 1.1%.
As the German GDP quarter-on-quarter is expected to recover from -0.4% to -0.1%, EUR/USD declined 20 pips to 1.0750. GBP/USD fell 43 pips to 1.2365, and AUD/USD decreased 66 pips to 0.6543. USD/CAD climbed 91 pips to 1.3595, and USD/JPY gained 88 pips to 139.47.
US crude oil inventories were reduced by over 12 million barrels, much higher than expected. However, WTI oil futures closed $1.43 lower at $74.34 a barrel. Spot gold dropped $18 to $1,957.33 an ounce. Bitcoin and Ethereum are trading lower at $26,127.0 and $1,778.61 respectively.
The Dow Jones Industrial Average plunged 255 points to 32,799.92. The S&P 500 slipped 30 points to 4,115.24, and the Nasdaq 100 fell 68 points to 13,604.48.
As the German GDP quarter-on-quarter is expected to recover from -0.4% to -0.1%, EUR/USD declined 20 pips to 1.0750. GBP/USD fell 43 pips to 1.2365, and AUD/USD decreased 66 pips to 0.6543. USD/CAD climbed 91 pips to 1.3595, and USD/JPY gained 88 pips to 139.47.
US crude oil inventories were reduced by over 12 million barrels, much higher than expected. However, WTI oil futures closed $1.43 lower at $74.34 a barrel. Spot gold dropped $18 to $1,957.33 an ounce. Bitcoin and Ethereum are trading lower at $26,127.0 and $1,778.61 respectively.
The Dow Jones Industrial Average plunged 255 points to 32,799.92. The S&P 500 slipped 30 points to 4,115.24, and the Nasdaq 100 fell 68 points to 13,604.48.