Dollar Strengthens on Fed Statements, Q4 GDP

Weekly Report - 27/03/2016

Dollar Strengthens on Fed Statements, Q4 GDP


The US Dollar ended the week recovering the losses from a week ago on hawkish statements by Fed officials and a higher Q4 GDP.

Weekly Review

The US Dollar closed the week recovering most of the losses from a week ago. Despite weak durable goods orders which fell -1.0% on the core and -2.80% on the headline and mixed existing and new home sales numbers, the Dollar managed to keep its steady pace of gains. Friday's final revision to the fourth quarter GDP saw the US economy revised higher to 1.40% annual growth, up from the previous estimate of 1.0%.


The Week Ahead

The markets head into a final trading week for the month of March. Monday is expected to remain quiet with most the markets remaining closed on account of the Easter Monday holiday. The economic calendar gets busy from Wednesday starting with the German inflation data and the US monthly ADP private payrolls numbers. Expectations are for an increase of 200k jobs in the month of March. Thursday see's the quarterly GDP numbers out of Denmark while Spain reports its retail sales numbers for February. The UK's Office for National Statistics (ONS) is expected to release the final revision to the fourth quarter GDP data which is slated to remain unchanged at 0.50% for the quarter. In the US session, Canada's monthly GDP numbers are due.


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