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The US Bureau of Economic Analysis (BEA) released its final estimate on Thursday, revealing that the US real Gross Domestic Product (GDP) increased at an annualised rate of 2.6% in the fourth quarter. This number was below than the 2.7% market forecast as well as the prior estimate.
“The revision primarily reflected downward revisions to exports and consumer spending,” the BEA explained in its press release. “Imports, which are a subtraction in the calculation of GDP, were revised down.”
As investors shifted their focus towards riskier assets due to waning concerns about a worldwide financial catastrophe, the US dollar (USD) opened the new week under negative pressure.
The US Dollar Index kept moving lower and dropped below 103.00 after having finished the previous two weeks in negative territory. The Dollar has been burdened further by renewed hopes that the US Federal Reserve (Fed) may pause its tightening programme at the next meeting. Last Friday,
