Thursday Forex Traders Money Market Update. 28th November 2019

Official 3rd quarter GDP data showed the US economy is continuing to remain robust with growth annualised running at an impressive 2.1% proving the largest economy in the world is also the most resilient economy. Virtually every leading economist expected the US economy to be sliding towards the edge of a recession cliff by December 2019 and they could not have been more wrong. The jobs market continues to remain strong, inflation whilst not rising is holding up compared to other regions of the world and consumer spending and consumer confidence remains sound. The US Fed is certainly not going to lower rates again any time soon with a back drop of economic data like we are seeing.
The US Dollar is always going to be supported when economic data remains strong as it is a sign inflation may rise in coming quarters and eventually the US Central Bank will raise interest rates.

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