By Neofytos Hadjineofytou
Market Update 23/02/2023
USD Preliminary GDP q/q – Gross domestic product is a measure of economic activity, it shows if the economy is expanding or contracting.
USD Unemployment Claims – Number of people filed for Unemployment.
What is important to know is that yesterday, the Feds stated a need for another hike, that is another increase of the current interest rate. With today’s data release the Feds will have a much better picture of the current economic situation, since various economists suggested that constant interest rate increase can raise the risk of a recession. The risk of a recession was noted by the feds as well.
As of today, the dollar showed a decline across the board, The down trend can possibly continue with today’s data release, depending of course on the current market situations.
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