Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
The GDP growth may push the USD up
The United States will release the level of final GDP growth on June 27, at 15:30 MT.
This indicator is the broadest measure of economic activity, that is why traders pay high attention to it. Last time it came out lower than the expectations (2.2% vs. 2.4%). The negative data raised concerns over the slowdown of the US economy and was one of the reasons behind the projections of the rate cut by the Fed. As a result, the USD weakened. However, this time the figures may lead to a different outcome.
• If the actual level of GDP growth is higher than the forecasts, the USD will go up;
• If the actual level of GDP growth is lower than the forecasts, the USD will go down
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
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The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.