Slightly weaker GDP figures than the market expected but quite weak internals. Consumers continue to sit on their wallets while inflation figures tumbled. Sounds like a recipe for a trigger-happy Fed to start spraying the Street with ground fire…
Despite this, the dollar is stronger. Perhaps the market is finally coming to grips with the fact that quantitative ease and currency strength have virtually no correlation.
EUR/USD is lower, down to 1.3115 while commodity currencies plunge.