The U.S. dollar It is trading mixed awaiting the data on the Gross Domestic Product (GDP) and the underlying CPI. In the opinion of Scotiabank’s economists, the outlook for the dollar remains negative.
Waiting for the data from the PCE, PBI
“USD outlook remains negative and losses risk accumulating as investors move to price peak inflation/Fed spike.”
“US Q4 GDP is expected to slow to 2.6% (SAAR) from 3.2% in Q3, but monitoring GDP data suggests growth momentum is holding (so far ) relatively well around the same pace seen in the last quarter and GDP could surprise on the upside.”
“Core PCE is expected to slow to 3.9% (from 4.7%), which should support expectations that the Fed will slow the pace of tightening and weigh on the USD.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
