The British monthly GDP is announced on Friday at 09:00 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 main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The US unemployment claims are out on Thursday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.