In my earlier post on the key indicators this week, I did mention that the third quarter preliminary GDP should be solid. The actual growth recorded was 3.9%, more than the estimated 3.5% which was revised up from last month`s advanced figure of 3.3%. There are 3 announcements of the GDP figure each quarter a month apart - advanced, preliminary and final with the advanced figure being the most influential one in moving markets.
The full GDP report can be found here
On the other hand, consumer confidence fell in November to 88.7. Economists were expecting 95.9,a slight increase from last month`s 94.1. This miss caused the dollar to not be as strong as it should tonight. Clarence Lim, a trading associate also noted the inherent weakness in the USD.
The Conference Board consumer confidence can be obtained here.
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