What US GDP could mean for markets

Thursday morning, the US will report final Q2 GDP growth - expected to be slightly higher than Q1 at 2.1%. Markets will pay closer attention to this reading than usual, since even a 0.2% deviation from forecast could be the difference between economic stability or economic decline.
Currently, US GDP remains much higher than other major economies. Expected global GDP growth for Q3 was only 0.3% according to the Bank of England. Euro-area specifically only increased 0.1% in Q2 and is expected to contract in Q3.
Asia experienced decline in growth much earlier than Europe. Since 2021, Japan's GDP has reported negative change four times and has not reported growth over 1.3%. This contrast in economic performance, among other factors, has translated to foreign exchange markets; USD/JPY is less than 200 pips away from reaching a 30-year high above 150.00.