Does Gross Domestic Product Data Drive Current Currency Price or Historical Confirmation?

Why does a massive GDP print often result in a weak currency reaction or an immediate selloff? GDP figures are lagging quarterly indicators that reflect economic activity that occurred months in the past. High-frequency algorithms and bank trading desks instead track daily high-frequency proxies like credit card spending, PMI survey data, and real-time shipping volumes. By the time official government GDP numbers are published, the information is already fully digested and priced into the market. Is tracking GDP data for FX direction useful, or are you trading old news?