Economic data helped U.S dollar to inch up

Dollar gained a upper hand against other major currencies after the stats of U.S gdp for q2 was released.
US economy grew by 1.7% q to q annualized in 2Q which is higher than the previous estimate of 1.5%. Many analysts were estimating it to remain at 1.5%.


Housing market data :

Home sales rose to a 2-year high of 101.7 which was a monthly gain of +2.4% (cons. +1.0%, prior -1.4%) and a yearly change of +15.0% (cons. +11.1%).


This friday Fed Chairman Ben Bernanke will be speaking publicly at Jackson Hole symposium on economic conditions.