TODAY: Preliminary report on US GDP for the second quarter!
Dear traders!
A preliminary report on the value of economic growth for the second quarter in the US will be released today at 15:30 Kiev time. Investors hope to get new information about when and how many times the Fed will be able to raise the interest rate this year.
According to analysts, the US economy for the second quarter will show an increase of 4.1% on an annual basis, which is almost twice more than in the first three months of this year. This will be the highest indicator of US GDP growth since the third quarter of 2014.
In addition, the economic calendar for this week is expected to have report on the volume of existing home sales, as well as a report on the volume of orders for durable goods in the US.
During US congressional reports this week, Fed Chairman Jerome Powell gave a positive assessment to the US economy, bolstering forecasts of two more Fed interest rate increases this year.
However, Trump criticized the monetary policy of the Fed, saying that the central bank’s plans to raise interest rates undermine his efforts to strengthen the US economy.
In his Twitter messages, he also expressed regret at the high rate of the US dollar, and also accused China and the EU of manipulating the exchange rate and the interest rate that allow them to gain an advantage in trading with the US. (Investing.com)
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