US GDP revision revealed a surprise fall

mar bonnin palmer

The release of yesterdays fourth quarter GDP revision revealed a surprise fall, leading traders to back out of Sterling amid fears that additional quantitative easing would be back on the agenda when the PPC meet in May. Adding to this sentiment, data released today revealed that the UK housing market remains fragile. More positive news emanated from the Eurozone with the suggestion that European governments are preparing to increase the size of rescue funds at their meeting scheduled tomorrow.
Across the Atlantic, market participants are keeping an eye on the final revision to the fourth quarter US GDP data. A surprise fall on this front may serve to reiterate Bernankes warning on Monday that the strength of the US economic recovery should not be over estimated.

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