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US GDP grew by 2.6% in Q2

Real gross domestic product increased at an annual rate of 2.6 percent in the second quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2 percent. The Bureau emphasized that the second-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency. The "second" estimate for the second quarter, based on more complete data, will be released on August 30, 2017.

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UK GDP in line with market expectations

UK gross domestic product (GDP) was estimated to have increased by 0.3% in Quarter 2 (Apr to June) 2017. The growth in Quarter 2 2017 was driven by services, which grew by 0.5% compared with 0.1% growth in Quarter 1 (Jan to Mar) 2017.

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Slowing U.K. GDP to Undermine GBP/USD Rebound

GBP/USD appears to be making a run at the monthly high (1.3126) as it initiates a series of higher highs & lows, but the 2Q U.K. Gross Domestic Product (GDP) report may undermine the rebound in Cable as the growth rate is expected to slow to an annualized 1.7% from 2.0% during the first three-months of 2017.

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China’s GDP at 6.9% in Q2

China’s economy expanded faster than expected in the second quarter, as traditional growth sectors continued to underpin the economy. The National Bureau of Statistics said gross domestic product (GDP) expanded at an annualized 6.9% in the second quarter, unchanged from the previous quarter and well within the government’s target range of 6.5% to 7%. Analysts in a median forecast called for quarterly growth of 6.8%. Compared to Q1, GDP expanded 1.7%, official data showed.

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