About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Will the quarterly US GDP impress the market?
What will happen?
US Advance quarterly GDP is announced on April 29 at 15:30 MT time.
Gross Domestic Product is the primary indicator of economic expansion. If it is steadily increasing, it confirms that the economic dynamics in the country are healthy and that the industry and services are adding momentum to produce more goods and services. Consequently, it translates into more labor force, higher financial circulation, and stronger demand for the national currency: inside and outside the country.
How to trade the quarterly GDP?
If the quarterly GDP is greater than the forecasts and shows expansion dynamics, observers may take that as an encouragement to go risk-on in their short-term and mid-term operations – that would eventually push the US dollar. Otherwise, the national currency may become weaker.
- If the quarterly GDP is greater than expected, the US may rise;
- Otherwise, the USD may drop.
Instruments to trade: USD/JPY, EUR/USD, GBP/USD, AUD/USD
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