US Dollar Strengthens Ahead of GDP Release
Arslan Butt•Thursday, May 30, 2019•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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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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