Forex news: US GDP close to expectations, -6.3%

US GDP was revised down to -6.3% in Q4, not as bad as expected (-6.5%) but still a frightful number.

Core PCE was a tenth higher than expected at 0.9%., Year on year, it was up 1.9%.

Exports fell 23.6% while imports were down 17.5%.

Risks from this figure were somewhat asymmetric; In other words, the market was nleaning toward a worse than expected figure and the buck is seeing a modest up tick on the less-dire than forecast result. EUR/USD is now at 1.3590.