The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
US GDP growth: keep an eye on the USD
The United States will publish the level of preliminary GDP growth at 15:30 MT time on November 27. The indicator represents the annualized change in the value of all goods and services produced by the economy. Traders pay attention to the preliminary release, as it gives a preview into the economic activity of a country. If the economic conditions are good, the Federal Reserve will consider applying changes to the current interest rate to the upside. According to the forecasts, the preliminary GDP growth will advance by 1.9%.
• If the actual level is higher than the forecasts, the USD will rise.
• If the actual level is lower than the forecasts, the USD will fall.
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
Jerome Powell made a rare appearance in the public media this Thursday. What did he bring to the audience?