Strong US economic data has exacerbated the decline of the EURUSD
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Yesterday, the U.S. Department of Commerce announced that the U.S. GDP grew by 6.9% in the fourth quarter of last year, and the annualized GDP growth in 2021 was 5.7%, as the strongest performance since 1984. Strong U.S. economic data boosted the possibility of the Federal Reserve raising interest rates in March, causing the dollar to surge to its highest level since July 2020, EURUSD fell heavily by 0.95%. The market expects that the annual rate of the US December core PCE price index which will be released tonight may be more supportive of the Fed’s hawkish stance, which will boost the dollar’s continued rise.
Trends in EURUSD can pay attention to tonight’s US PCE price index annual rate in December, Personal Spending Monthly Rate in December and University of Michigan consumer confidence index final value in January, which will affect the trend in EURUSD. Investors must Grasp the opportunity to make an order.
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