US Q1 GDP revised to -5.7%, weaker than expected

US Q1 GDP war revised modestly higher, but not as much as the market had expected. The revision was to -5.7% from the 6.1% reported last month. Economists had expected a revision to 5.5%. The market is not to concerned with this data as we’re more than half-way through the second quarter and the landscape has shifted amid “green shoots” in recent months. Core PCE, the Fed’s favored inflation measure is nicely positive at +1.5% in the latest data. No deflation there…

EUR/USD trades at 1.4108 after reaching 1.4135 on an erroneous headline earlier in the session.