{"id":110057,"date":"2017-07-31T10:26:27","date_gmt":"2017-07-31T14:26:27","guid":{"rendered":"http:\/\/countingpips.com\/?p=110057"},"modified":"2017-07-31T10:26:27","modified_gmt":"2017-07-31T14:26:27","slug":"the-us-gdp-revision-for-q1-slightly-disappointed-investors","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/the-us-gdp-revision-for-q1-slightly-disappointed-investors\/","title":{"rendered":"The US GDP revision for Q1 slightly disappointed investors"},"content":{"rendered":"
July 31, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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The US dollar index again approached the 13-month low<\/h2>\n<\/div>\n<\/div>\n

On Friday, the US stock market was no single trend.<\/p>\n

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The S&P 500 index fell on the background of weak quarterly reports of such major companies as Amazon, Exxon and Starbucks. The\u00a0Dow industrials<\/a>\u00a0index rose on the background of positive data from the oil company Chevron. U.S. Food and Drug Administration announced plans to reduce nicotine content in cigarettes. This caused a drop in the stocks of tobacco companies Altria and British American Tobacco by 9.5% and 7%, respectively. In general, the corporate earnings season is successful. The total profit of the reported companies from the S & P 500 list increased by 10.8%. The dollar index was markedly lower due to revising the US GDP for Q1,2017 from 1.4% to 1.2%. In Q2, it grew by 2.6%, which is slightly below the forecast of 2.7%. Today at 15-45 CET the Composite PMI by Chicago ISM and at 16-00 CET \u2013 the data on construction-in-progress for June will be released in the US. Currently, the futures for the US stock indices are “in the black.” The US dollar index rose slightly.<\/p>\n

\"stock\"<\/p>\n<\/div>\n<\/div>\n

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A number of major European companies published weak quarterly reports<\/h2>\n<\/div>\n<\/div>\n

Today the euro has slightly corrected down<\/p>\n

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European stock indices have increased today thanks to the positive reports of the HSBC bank and the stocks of mining companies. They reacted to the increase in metal prices after the publication of the positive indicator of China’s manufacturing activity. The prices of the pharmaceutical company Sanofi have increased thanks to revising the forecast of financial results upwards. The 45% of companies from the MSCI Europe index list reported. Out of these, only 58% exceeded profit forecasts. Today the\u00a0euro\u00a0<\/a>dropped after the publication of the euro zone inflation data for July. It remained at the June level amounting to 1.3%. Such low level delays the prospect of an ECB rate hike. An additional negative for the euro was the relatively weak data on Germany’s retail sales for June.<\/p>\n<\/div>\n<\/div>\n

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Nikkei slightly decreased<\/h2>\n<\/div>\n<\/div>\n

Today\u00a0Nikkei<\/a>\u00a0fell on the background of the weak reports by the industrial robot manufacturer Fanuc Corp and the bank SoftBank. The yen slightly strengthened thanks to the positive economic data of Japan’s industrial production for June.<\/p>\n

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Oil prices continue to go up<\/h2>\n<\/div>\n<\/div>\n

Oil prices have slightly risen today. This was contributed by the announcement about a meeting between OPEC and independent producers on August 7-8, 2017. It will discuss the possibility of an additional reduction in oil production from January 1, 2018. An additional factor was the low increase in the rigs count by 10 units in July in the US. This is the slowest growth rate since May 2016. The US oil reserves demonstrate a steady decline and have decreased by 10% from their March highest level of 483.4 mln barrels.<\/p>\n

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets The US dollar index again approached the 13-month low On Friday, the US stock market was no single trend. The S&P 500 index fell on the background of weak quarterly reports of such major companies as Amazon, Exxon and Starbucks. The\u00a0Dow industrials\u00a0index rose on the background of positive data from the oil company […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-110057","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/110057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=110057"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/110057\/revisions"}],"predecessor-version":[{"id":110062,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/110057\/revisions\/110062"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=110057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=110057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=110057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}