Forex Today: IMF Ups Global Growth Forecast

The International Monetary Fund has increased its forecasted global GDP growth for the first time in over one year,

seeing every G7 economy growing in 2023 except the UK, which is forecast to be in recession. However, stock markets have continued to weaken after falling over the past day. In the Forex market, the US Dollar has continued to gain strength as the Dollar Index seems to have made a bullish reversal from the support level at 101.07. We may be seeing a medium-term bullish reversal against the long-term bearish trend in the greenback. The US Dollar and the Japanese Yen are the strongest major currencies while the Australian Dollar is currently the weakest.after reaching within just a few pips short of $1.

There will be releases today of Canadian GDP data, US CB Consumer Confidence data, and New Zealand Unemployment data.decreased last week for the sixth consecutive week, but there are serious doubts over the veracity of China’s official statistics, which almost certainly dramatically understate new coronavirus cases.million with an average case fatality rate of 1.Top Forex Brokers

Source: Financial Digest (financialdigest.net)

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