ForexLive New York forex wrap-up; Freaky Friday for dollar

ForexLive New York forex wrap-up; Freaky Friday for dollar
* US Q2 GDP falls 1.0% slightly better than expected, consumer spending weak; Q1 revised much weaker, down -6.4% * NY City NAPM rises to 48.3 from 44.8 * Chicago PMI rises to 43.4 in July from 39.9, slightly better than expected * IMF: Dollar moderately overvalued * JP Morgan raises Q3 GDP forecast to 3% * Cash for clunkers success has economists forecasting a jump in US auto production in second half with positive GDP impact * Obama: Guardedly optimistic economy has turned quarter * ECB Sources: ECB preparing further non-standard measures in case rebound does not take hold- Market News International * US equities ended essentially unchanged, rise... Full Story