US Advance GDP report may appear soft when we look at the headline GDP q/q figure, but the Real Consumer Spending and Q1 revision make it a solid one.
Advance GDP q/q: 2.3% vs. 2.6% expected, 0.6% previous (revised up from -0.2%)
Real Consumer Spending: 2.9% vs. 2.7% expected, 1.8% previous (revised down from 2.1%)
But not solid enough for USD/JPY to break and hold above the strong resistance near 124.50. This was the second time this month and the fourth time in the past month and a half that t…
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