Forex | Forex | Asian Session: Risk Rally Continues (03/08/2009 10:44:06)

Asian Session: Risk Rally Continues

Market Brief The advance reading for 2Q U.S. GDP showed a 1% contraction which surpassed estimates of 1.5% but a revision of the 1Q reading to -6.4% from -5.5% showed that the recession was the deepest in 27 years. Despite the contraction slowing, the 1.2% decline in personal consumption will dim the outlook for future domestic growth. The expectations that unemployment will continue to rise should continue to weigh on consumer spending which will make sustainable growth difficult to attain.

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