Archive for July 28th, 2022

Deeper Analysis

U.S. GDP Data Deconstructed

July 28, 2022

As some had speculated, the first estimate of U.S. GDP in the second quarter posted a second consecutive quarter-on-quarter decline, this time of 0.9% after a 1.6% slide in the first quarter. If this had been accompanied by falling employment, which emphatically has not been the case, it would be a strong signal that the […] More

New Overnight Developments Abroad - Daily Update

U.S. 2Q GDP Report Heads Crowded Data Release Schedule Today

July 28, 2022

U.S. real GDP fell 1.6% on quarter at an annualized rated during the winter period and is expected to rebound only about 0.5% in 2Q. The data will be released shortly. Meantime, the dollar strengthened overnight, especially in the past couple of hours. From Wednesday closing levels, the dollar is up 0.8% against the euro, […] More