The first look at Q1 US GDP is coming up next

It’s a busy slate on the US economic calendar today with Q1 GDP kicking things off along with initial jobless claims, advance goods trade balance for March, wholesale inventories and Canadian average weekly earnings.

The consensus on GDP is 2.4% while the Atlanta Fed tracker was at 2.7%. The high estimate is Goldman Sachs at 3.1% while Julius Baer is at 1.5%. The Q4 ‘final’ reading was 3.3% but that could be revised as well.

The broader market is in a bad mood and the US dollar is moderate lower. Shares of META are down 16% in the premarket.

This article was written by Adam Button at www.forexlive.com.