When is the US GDP and how could it affect EUR/USD?

US Q1 GDP Overview

Friday's US economic docket highlights the release of advance Q2 GDP print and is scheduled to be published at 1230 GMT. The first release is anticipated to show a strong annualized growth rate of 4.1%, though might have been revised higher following the White House leak on Monday that pointed to a growth rate of 4.8%. Nevertheless, the reading will, for sure, point to a stronger growth in the second quarter. 

Deviation impact on EUR/USD

Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction on the pair is likely to be in the range of 25-30 pips in the first 15-minutes and could extend to 75-85 pips in the following 4-hours in case of a deviation between -0.88 to +0.68. 

EUR/USD technical levels to watch

Yohay Elam, FXStreet's own Analyst explains: "1.1615 was a swing low in mid-July. 1.1575 was a low point around the same period of time. The ultimate line of support is 1.1508, the lowest point in 2018."

He further added: "1.1680 capped the pair in late June. 1.1750 held the pair down in mid-July and other attempts also got close to this level. 1.1795 was a swing high in early July."

Key Notes

   •  Trump thinks Friday's GDP numbers in the US will be terrific

   •  US GDP Preview: After the Trump leak, look beyond the headline number

   •  How to trade the US GDP with EUR/USD

   •  EUR/USD drops further near 1.1620 ahead of US GDP

About the US GDP

The Gross Domestic Product Annualized released by the US Bureau of Economic Analysis shows the monetary value of all the goods, services and structures produced within a country in a given period of time. GDP Annualized is a gross measure of market activity because it indicates the pace at which a country's economy is growing or decreasing. Generally speaking, a high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.