US Dollar Strengthens Ahead of GDP Release

Posted Thursday, May 30, 2019 by
Arslan Butt • 1 min read

The US dollar rose to a one-month high on Wednesday ahead of the US GDP release even as trade tensions between US and China remained high as ever. The US dollar index has broken above the 98.00 level, with the DXY trading at 98.15 at the time of writing.

The benchmark yields on the 10-year Treasury notes fell to 2.219% on Wednesday, touching the lowest levels since September 2017. Risk aversion remains high in markets because of uncertainties surrounding the trade war and its potential impact on global economic growth.

Investors’ focus turns to the US GDP data and how the trade war has impacted economic growth in the US. GDP is expected to decline to 3.1% in Q1 2019.

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