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US 4Q’14 GDP Slows but Beats Forecast, USD Off Lows

US 4Q’14 GDP Slows but Beats Forecast, USD Off Lows

Christopher Vecchio, CFA,

Talking Points:

- EURUSD falls back from daily highs after German CPI, US GDP.

- AUDUSD treating daily 21-EMA as resistance again.

- See the DailyFX Economic Calendar for Friday, February 27, 2015.

The US Dollar is posting mild rebounds across its major counterparts this morning after the second 4Q'14 GDP release came in above consensus forecasts. Here's the data driving the greenback:

- USD GDP (4Q S) (Annualized): +2.2% versus +2.0% expected, from +2.6%.

- USD Personal Consumption: +4.2% versus +4.3% expected, unch (y/y).

See the above video for technical considerations in USDOLLAR, EURUSD, GBPUSD, and AUDUSD.

Read more: EUR/USD Breaks Month-Long Range as Crowd Flips to Net-Long

--- Written by Christopher Vecchio, Currency Strategist

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.