It seems like the rally of the greenback has ended. On Monday, the US dollar index was below $93.50. Tuesday’s attempts to recover are not successful. The index is below $93.40. No important economic data will be released today.
American economy slows due to hurricanes in the third quarter
American economic surge probably slowed during the third quarter because hurricanes Harvey along with Irma affected consumer spending as well as construction activity. However, underlying momentum is still sturdy enough amid upbeat business investment on equipment.
As a Reuters survey of market experts states, the US GDP inched up at a 2.5% annual rate from July to September.
On Friday, the Commerce Department is expected to release its first evaluation of third-quarter GDP surge. Excluding the hurricane-related disruptions, market experts tell that third-quarter GDP ascend would have either matched or surpassed the tempo observed from April to June.
With post-hurricane labor market, industrial output as well as retail sales data already demonstrating a rebound in activity, the upcoming report will most likely have no impact on the US monetary policy in the near future.
In December, the Fed is believed to lift interest rates for a third time in 2017.
This economic indicator is highly important for the Bank of England’s monetary policy because it is used as the central bank’s inflation target.
The weekly indicator of consumer confidence from ANZ rallied by 0…
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…