Asian currencies gaining against softer Dollar following US Q1 GDP report   


29 April 2019 : Over in the FX markets, Asian currencies are generally pointing higher in Monday trade, after the US Dollar softened following the release of its Q1 GDP report. The economic print surpassed expectations, with 3.2% annualized growth for the first quarter of 2019, but the impressive headline reading failed to assuage the demands of Dollar buyers, as US consumer spending slowed for a third straight quarter, indicating that underlying domestic demand is waning. More US personal income and spending data will be released later today, which should help investors gain further insights into the primary driver of the US economy, and more softness in consumer expenditure will be seen as a risk for further weakness in the Dollar in the near-term.


Source : Lukman Otunuga, FXTM Research Analyst


Reporting for EasyKobo on Monday , 29 April 2019 in Lagos, Nigeria


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