Dollar downfall and America’s economy – MM #171

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The dollar has been falling for quite sharply and we explain why. It’s not the US economy: we digest the latest US GDP report which gives something for everybody before concluding with a preview as February begins. 

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  1. Dollar demise: Mnuchin’s endorsement of a weak dollar was blamed for the downfall, but that’s certainly not the main driver. We analyze the reasons for the fall, from the quick government shutdown, optimism about other economies, Fed uncertainty and more. How does the tax plan impact the buck?  And what about NAFTA? Has the dollar bottomed out after Trump’s bullish USD comments or is it just another opportunity to sell the currency?
  2. The US economy: The first estimate of US GDP came out below 3% and below expectations, but there are reasons to be optimistic about the economy. We tackle the moving parts in the largest economy.
  3. Preview:  Yellen’s last rate decision and the Non-Farm Payrolls stand out as we turn the page onto February. Will the dollar continue falling and stocks continue rising?

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.