Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Aussie goes down on gloomy Q3 GDP figures
On Wednesday, the Australian dollar went down after third quarter GDP estimates turned to be weaker than anticipated notwithstanding the data lags more timely figures, including wage surge.
As Australia informed, the country’s third quarter GDP tacked on 0.6% versus a 0.7% soar observed on quarter and shy of the 3% tempo on year anticipated.
The currency pair AUD/USD inched down 0.35% being worth 0.7581. Meanwhile, USD/JPY showed an outcome of 112.44, sinking 0.15%. The currency pair GBP/USD dived 0.20% trading at 1.3416.
Tracking the greenback’s strength versus a basket of six key currencies, the US dollar index ascended 0.24% reaching 93.27.
Overnight, the evergreen buck rallied versus a basket of currencies because everlasting optimism over the progress of tax reform compensated weaker-than-anticipated service sector data.
The tax cuts, generally considered to be inflationary, kept spurring an uptick in the US currency, compensating economic data, which showed that in November American services activity fell short of hopes.
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