27 Aug 2015
US Q2 GDP expected to be revised higher - RBS
FXStreet (Bali) - RBS trading desk economists think the US GDP released today will be a solid upward revision to 2Q GDP growth.
Key Quotes
"Understandably, US market focus has shifted away from the trend that was in place prior to recent market volatility and China’s devaluation and has moved to how those developments may impact future data."
"In that sense, market participants may look beyond what our trading desk economists think will be a solid upward revision to 2Q GDP growth released today."
"Our economists forecast the revision will likely pull the 2Q growth rate up from 2.3% to 3.4% q/q annualized, in part due to stronger inventory build (which, to be sure, could weigh on future growth as those inventories are drawn down)."
"Weekly initial jobless claims will be released for the week ended August 26th as well along with the pending home sales index for July."
Key Quotes
"Understandably, US market focus has shifted away from the trend that was in place prior to recent market volatility and China’s devaluation and has moved to how those developments may impact future data."
"In that sense, market participants may look beyond what our trading desk economists think will be a solid upward revision to 2Q GDP growth released today."
"Our economists forecast the revision will likely pull the 2Q growth rate up from 2.3% to 3.4% q/q annualized, in part due to stronger inventory build (which, to be sure, could weigh on future growth as those inventories are drawn down)."
"Weekly initial jobless claims will be released for the week ended August 26th as well along with the pending home sales index for July."