GDP softer than expected at +2.2%

PCE was lower at 1.2%.

Inventories continued to be drawn down in the third quarter, setting up what economists expect to be a bounce-back in Q4 as inventories are rebuilt.

The dollar is a shade weaker in the wake of the data but I’d expect that dip to be limited as the Q4 data has been quite firm thus far. 1.4330/35 is resistance.