US Dollar braces for next year’s move amid a setback. One more week to go, and the US dollar is still on a mixed note. Some economic news looks good for investors, while others look bad for the global market. A few precious metals and equities fell short last week as a consequence of government data. According to the data, the economy grew faster than expected in the third quarter. So much has happened in the previous week as a result of the Fed’s increase in interest rates. Investors are looking forward to the next meeting by the Fed due to the backdrop of the positive GDP. As a result, there could be a high rate of inflation, recession, and interest rate, and this could put a burden on the financial market.
The US Government Issues Economic Sanctions
The outcome of the recent stock market rally, which was fueled by a government economic report, could help keep the US economy from entering a slump. Although the recent GDP seems unsatisfactory to traders as the growth is reported at 3.2%, the general trend for the US Index appears to have been short for the week before reviving. The report on the housing market shows little deterioration in November 2022. Also, the projected data on durable goods was lower than the estimated one. The consumer confidence report also slipped lower to previous work.
With the year coming to an end, the US is trading off against Russia and its other competitive foes. The US government is hoping that by excluding Russia from the global trade and financial markets, the war may cease soon. However, with the war still in motion, the Russian president seems unmoved by the economic sanctions. A bid for more aid was requested by Ukrainian President Volodymyr Zelensky after meeting with President Joe Biden.
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