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

US Q4 GDP Overview

Thursday's US economic docket highlights the delayed release of advance US Q4 GDP growth figures, scheduled to be published at 13:30 GMT. The economic growth in the October-December quarter is anticipated to have decelerated further to 2.3% annualized pace as compared to 3.4% recorded in the previous quarter.

However, analysts at TD Securities anticipate the US Q4 GDP growth to disappoint and come in at 2.2%, especially following weak December retail sales and core capital goods data. Meanwhile, National Australia Bank analysts are expecting a quarterly growth of 0.5% (2.1% annualized) and HSBC analysts suggest that the report is likely to show a weakening in domestic demand.

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, in case of a deviation between -0.88 to +0.68, is likely to be in the range of 27-28 pips in the first 15-minutes and could extend to 72-83 pips in the following 4-hours. 

How could it affect EUR/USD?

Ahead of the important release, Yohay Elam, Analyst at FXStreet provides important technical levels to trade the major: "1.1430 and 1.1450 demarcated higher trading ranges last seen in January. Support is at 1.1360 that provided support on Wednesday. The next cushion is at 1.1345 seen earlier in the week. 1.1330 and 1.1315 worked as support in mid- February."

Key Notes

   •  US Fourth Quarter GDP: What hath retail sales wrought?

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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.