Today was busy day in regards with economic data releases. US GDP grew at 3.1% in second quarter, slightly above then previously forecasted. It is the best quarterly growth in around two years. The economy at its core remained stable as the growth in job market and booming stock market encouraged households to spend.
Earlier today the euro fell around 0.2% against its counterparts and 0.6% against the US dollar, following the German election. Angela Merkel remains in the driver's seat but the far right AfD party gained much more support than anticipated in recent surveys, though the formation of a coalition still remains to be seen.
Yesterday, US dollar traded higher against the Euro as the Germany results continued to shake traders sentiments. A weaker than expected performance of Angela Merkel's conservative party suggests that Europe could face political turbulence in future. In two days euro is down 1.4% against the dollar.