GDP

The largest and most important part of the Australian economy is struggling under the weight of higher borrowing costs, adding to the risk the Reserve Bank of Australia (RBA) may be forced to start lowering policy rates sooner than other central banks, keeping the Australian dollar under pressure.

Australia’s economy is slowing, but there’s a chance GDP could come in softer than the RBA’s own forecast. And that could weigh on AUD/USD on renewed RBA-cut bets.

The European Central Bank (ECB) is likely to acknowledge that the current state of the Eurozone economy, with growth hovering around zero, is not great. However, it will probably highlight more forcefully signs suggesting that inflation is not making swift progress towards their 2% target, particularly in light of the persistent pressure on wages.

USD/CAD has rallied each of the first four days so far this week to trade above 1.3800, essentially the pair’s highest level since last October...

What are the top 10 biggest economies in the world? Find out with our complete guide to the economies by GDP, GDP per capita and PPP GDP.

The velocity of money is calculated by dividing a nation’s GDP by its money supply. The level of velocity indicates how quickly money cycles through households and businesses in an economy.

With the BoJ and FOMC meetings, and key US data including GDP, Core PCE Price Index and nonfarm payrolls report all to come, the USD/JPY outlook could change dramatically and perhaps multiple times over the next several days.

The government’s recent 2023 growth target of ‘around’ 5% seems to be on track according to the NBS, which helped commodity FX and indices rise during the Asian session.

GDP releases are crucial events on the forex trading calendar, measuring the percentage change in the economic output of a country. New GDP rates are highly anticipated by forex traders because of what they mean for the country’s economy and what policies central banks and government may enact in response.

Whilst Australia’s Q3 GDP was expected to soften relative to Q2, it came in softer than expected. And whilst household spending remains apparent, it is to the detriment to savings.

USD/CAD made a large move higher today, though it doesn’t seem like it was based on fundamentals.

UK investors more worried about a deteriorating global economy, than are hopeful about the US and other central banks easing rate hikes

Today’s US data did little to help traders change their minds regarding the possibility of a 75bps hike at next week’s FOMC meeting.

Today’s US data did little to help traders change their minds regarding the possibility of a 75bps hike at next week’s FOMC meeting.

With some calm restored to Wall Street overnight, attention today tuned to the release of Q2 NZ GDP and the Australian August labour force report for August.

The ASX200 trades 100 points lower at 6727 at 3.05pm

The higher revision to the Price Index continues to shed light on the fact that Fed underestimated inflation over the course of the last year.