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US GDP Shines | Oil Prices Slip

Published April 26, 2019

• Economic growth in the US unexpectedly accelerated in the first quarter and posted its best growth to start a year in six years on a big boost from inventories and trade that offset a slowdown in consumer spending. Overall the first quarter GDP expanded at a 3.2 percent annualized rate, beating 2.5 percent estimates.
• WTI oil prices dipped amid expectations that OPEC will raise output to counter shrinking exports from Iran after sanctions imposed by the US earlier in the week to halt all exports from the rogue nation. WTI crude prices have hit a low of $63.61.
• ECB Vice President Luis de Guindos opened the door to more money printing if needed to boost inflation in the euro zone. Guindos further said that he is not very optimistic on the European economy, however, expects the growth to pick up in the second half of the year