29.07.2016 - The US economy grew in the second quarter by 1.2%

Today in the United States was published a preliminary report on the growth of US GDP in the second quarter of this year, according to which the US economy grew by 1.2% vs. expected 2.6% and the previous figure of 0.8%. The reason for the weaker statistics was to reduction in investment. This fact reduces the likelihood of earlier Fed raising interest rates. At the same time, weaker economic growth increases the probability of victory of Donald Trump at the presidential election in November, which is a risk for the US economy and the US dollar. Despite this, we expect the euro to fall with the objectives of 1.0850 and 1.0700.

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