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Q3 GDP revisions for Germany and the USD due today – RBS

FXStreet (Barcelona) - The RBS Research Team note, the Q3 GDP revisions wont gather much attention as the FX market will likely focus more on forward-looking data than the revisions.

Key Quotes

“Elsewhere on the data calendar, third-quarter GDP revisions are due in Germany and the US. As we are well into the fourth quarter, the FX market focus will likely lie more on the forward-looking data than the backward-looking GDP revisions.”

“In any event, the German data is anticipated to go unrevised – the initial estimate showed a 0.1% q/q advance.”

“In the US, we are slightly above the consensus anticipating a slight downward revision from 3.5% to 3.4% q/q annualized (consensus 3.3%). The since-released September trade figures suggest net trade was a smaller boost in the third quarter than previously estimated.”

“Consumer confidence will also be released in the US. Falling fuel prices and solid employment data likely fuelled a further rise in confidence – we expect a jump to 97.5 in November, a new recovery high.”

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