The US economy just released the second reading for the GDP growth rate in 2010's second quarter as it came at 1.6% which is better than the expected 1.4% yet lower than the previous 2.4%. The GDP price index for the same quarter also came in better than expected at 1.9% while markets expected it to remain unchanged at 1.8%.

The Personal Consumption during the second quarter came in at 2.0% which is better than the expected 1.6% as markets expected no change from previous reading, yet Core PCE came inline with markets expectations at 1.1% unchanged from previous reading.