The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
German economy is pushed into higher gear by broad-based upswing
The German economy gained speed during the first quarter of 2017, powered by higher investment in machinery, construction and equipment, sturdy household as well as state spending, not to mention strong exports, as the Federal Statistics Office disclosed on Friday.
On the quarter in the January-March period Europe's number one economy add by 0.6% after 0.4% for the last three months of 2016, as the data disclosed.
It turned to be in line with the consensus forecast in a Reuters survey as well as the strongest quarterly surge rate since the first quarter of the previous year, when the German economy managed to expand by 0.7%.
Private households and the state ones moderately stepped up their consumption expenditures at the beginning of 2017.
On the year, Germany’s GDP tacked on by 1.7% on a seasonally unadjusted basis during the first quarter, and it was in line with the consensus prediction.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…