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US fourth-quarter 2018 GDP grew at an annualised 2.6%, above the 2.2% consensus, and full-year 2018 growth reached 2.9%. The stronger reading eased fears of an imminent US slowdown and lifted the dollar against sterling.
Sterling retreated from multi-month highs.
Firmer US growth supports the dollar, which tends to pressure dollar-denominated commodity prices and make US feed exports less competitive, while sterling weakness raises UK import costs.
poundsterlinglive.comJames SkinnerFeb 28, 2019After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
