Last Friday all eyes were on the advanced GDP reading from the US, where the results have shown that the United States economy had accelerated in the 2nd quarter, where the seasonally-adjusted annual rate of 4.1% in the period April-June was almost double the expansion we have seen in the first quarter of the year, which was 2.2%. In addition, President Trump has predicted ahead of the news release, that the US economy will be seen as in ‘terrific’ shape, which obviously did come true.
Euro rises as US Dollar eases on the day of Trump-Putin meeting. The risk sentiment eased on Monday with the Euro trading slightly higher on Monday against the US Dollar at around 1.1700 before the high profile Trump-Putin summit in Helsinki. After hitting its best level since early July, the US Dollar witnessed some profit-taking on Friday following a setback from import prices and consumer confidence data.