U.S. Economy Slowing

U.S. macroeconomical data releases get a little less overoptimistic while the subprime lending crisis takes its toll and the carry trade is uncertain. This is the second week after a major carry trade crisis when the major indicators of carry trade, like GBP/JPY and EUR/JPY, are trading flat without any signs of the future for this type of financial trading. But worser U.S. economical indicators hint for some major change in the global financial kitchen.
Global domestic product for the second quarter of the 2007 showed a big increase compared to first quarter (which has been a big disappointment) but still 0.1% lower of 4.1% expected.
Initial jobless claims for the previous week came out to be 334,000. Not only it is 14k higher than experts have been expecting, but it is also a record high number since the April of this year. This may lead to the lower August non-farm payrolls report and higher unemployment rate for that month.