U.S. data overall better than expected, USD/CAD dives for 1.0200

Data on Thursday (December 22) showed that US GDP data in the third quarter was slightly lower than expected, but other economic data released during the day were better than expected, plus the New York in early morning the Italian Senate passed the fiscal austerity program, Europe and the United States stock market was supported up , USD/CAD after the US GDP data rushed to the 1.0270 line after the weak to explore the low 1.0200 lows.

According to data released by New York City in the morning, the US annual real GDP growth rate in the third quarter was 1.8%, which is expected to increase by 2.0%. The final value of the GDP deflator in the third quarter rose by 2.6%, and is expected to increase by 2.5%. The data was less than expected, and the risky currency was under slight pressure. However, the data released subsequently was better than expected, and the decline in non-US currencies was limited.

The number of US jobless claims in the United States on December 17th was 364,000, which is the highest since mid-April 2008 and is expected to be 375,000; the average value of the surrounding area was 380,500, which was the highest since mid-September 2008; December 10th When the number of weekly claims for unemployment benefits was 3.546 million, an expected 3.6 million people. In addition, the data also showed that the United States in November the Chicago Fed national activity index decreased to 0.17 after an upward revision of 0.11 in October. Subsequently, the final US consumer confidence index for the University of Michigan in December was 69.6, with an initial value of 67.7 and a final value of 64.1 in November. Economists expected a median of 68.0.

The number of jobless claims in the United States on December 17th fell to the level before the subprime mortgage crisis broke out, but the GDP data released by the Department of Commerce (DOC) performed poorly. The US dollar index oscillated higher after the release of the data, pushing the US dollar against the Canadian dollar. Rapidly climbed to a new intraday high of 1.0270.

The generally good U.S. economic data implied that U.S. economic growth momentum continued to increase. U.S. economic growth continued to provide support for commodity currencies. The U.S. dollar fell back to the Canadian dollar and touched a low of 1.0200 days.

In addition, the Italian Senate passed Prime Minister Monty’s €33 billion austerity plan on an absolute advantage Thursday, which aims to restore market confidence in Italy, the third largest economy in the euro zone. This also provides support for market risk appetite.

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