The European Common Currency traded sideways against the US Dollar, following the US Prelim GDP data release on Thursday at 12:30 GMT. The EUR/USD exchange currency rate lost 5 pips or 0.04% right after the release. The Euro continued trading at the 1.1065 level against the Greenback.
The Bureau of Economic Analysis released the US Prelim GDP data, which came out in line with the expectations of 2.0%.
According to the official release: “The increase in real GDP in the second quarter reflected positive contributions from PCE, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment, exports, residential fixed investment, and nonresidential fixed investment. Imports increased.”
