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Markets Focus on US and UK GDP Reports

Markets Focus on US and UK GDP Reports

The US and UK GDP reports for the fourth quarter of 2022 draw investors’ and traders’ attention. In Japan, the BoJ’s outgoing governor Haruhiko Kuroda said that “the economy is closer than before to sustainably hit the 2% inflation target.”

Australia’s CPI inflation came in at 6.8% on a year-to-year basis in February, while ANZ’s analysts noted in a report that “Australia’s monthly CPI indicator showed inflation momentum remains strong and is not slowing as much as the fall in annual inflation would suggest. Along with previous data releases, this makes us comfortable with our call that the RBA will raise the cash rate 25 bps at its April meeting.”

GfK Institute released an earlier morning report that showed German consumer confidence was set to rise in April for the sixth consecutive monthly period. This is despite record-breaking energy prices. GfK’s economists noted that “the anticipated loss of purchasing power is preventing a sustained recovery of domestic demand. This is also indicated by the still very low level of consumer confidence.”

US GDP Report Q4 2022

The US Bureau of Economic Analysis (BEA), will publish data about the US GDP growth during the fourth quarter of…

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