EUR/USD Pullback to Gather Pace on Upbeat

– U.S. 1Q GDP to Contract Annualized 0.2%- First Decline Since 1Q 2014.

– Core PCE to Climb Annualized 0.8%- Slowest Since 4Q 2010.

Trading the News: U.S. Gross Domestic Product (GDP)

Another upward revision to the 1Q U.S. Gross Domestic Product (GDP) report may boost the greenback’s appeal and spark a larger decline in EUR/USD as it fuels speculation for the Federal Open Market Committee (FOMC) to remove the zero-interest rate policy (ZIRP) at the September meeting.