Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
The GDP growth may push the USD up
Information is not investment advice
The United States will release the level of final GDP growth on June 27, at 15:30 MT.
This indicator is the broadest measure of economic activity, that is why traders pay high attention to it. Last time it came out lower than the expectations (2.2% vs. 2.4%). The negative data raised concerns over the slowdown of the US economy and was one of the reasons behind the projections of the rate cut by the Fed. As a result, the USD weakened. However, this time the figures may lead to a different outcome.
• If the actual level of GDP growth is higher than the forecasts, the USD will go up;
• If the actual level of GDP growth is lower than the forecasts, the USD will go down
The market takes breath after the long rally. What opportunities do traders have today?
Congratulations! Gold has just opened a new era... or, rather, reopened...