Forex news for traders on May 26, 2017.
In other markets today:
– US yields ended marginally lower in holiday shortened trading: 2 year 1.293%, unchanged. 5 year 1.789%, down -0.4bp. 10 year 2.246%, down -0.8 bp. 30 year 2.912%, down -0.8 bp
In the North American session today, US GDP revision for the 1Q came in higher at 1.2% vs 0.9%. That will look better than the 0.7% that was the first stab at the release, but is still below the growth estimates for 2017. Nevertheless, at 1.2%, it is a more respectable showing for the quarter. NY Fed Nowcast GDP guesstimate rose to 2.3% for the 2Q from 1.9% last week, while the Atlanta Fed GDPNow estimates a 3.7% 2Q number. That is still a pretty good gap for the two Fed estimates (the market does not really react to either to be honest).