Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
Reuters poll: American economic expansion will last another two years or even more
The American economic expansion is going to last another two years. It follows from a majority of financial experts surveyed by Reuters, who also forecast that surge wont’ accelerate the way the Trump administration has hoped for.
The revival from the fierce 2007-2009 financial meltdown has been lengthy enough. The latest surge stretch has already involved up to 96 months, and if the poll predictions come true it would indicate the longest economic expansion for the last 150 years.
Surge has still not picked up as rapidly as previously thought, leading predictions to lower hopes again moderately in the survey of more than 100 financial experts conducted August 7-10.
The American expansion has still more than two years to last, according to 34 of 57 financial experts, who answered an extra question on the business cycle. Apparently, of those experts, 21 told it would take two to three years, while 13 pointed to three years.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.