Fitch Ratings, in its latest global economic outlook report, revised down its global GDP estimate for 2020. Key takeaways “See a huge contraction for the global economy. Global GDP forecast now revised to -3.2% vs. -1.7% back in April. Most of the contraction will be in Q2. We have revised down our growth forecasts for several markets including the US, Italy, the UK, Germany, Japan, Brazil, Mexico, Nigeria, Egypt, Indonesia, the Philippines, Turkey and Poland. Forecast a recovery of 3.6% in 2021.” Market reaction Markets are witnessing a cautious optimism, with the Asian markets flashing green, taking the positive lead from Wall Street overnight. However, the US stock futures and Treasury yields are falling, suggesting Asian traders are not buying into the overnight optimism about the Moderna vaccine amid trade tensions. The US dollar index is off the multi-day lows, aiding the tepid bounce in USD/JPY towards 107.50 while AUD/USD is consolidating the gains below 0.6550. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WTI Price Forecast: Oil retreats from two-month highs FX Street 2 years Fitch Ratings, in its latest global economic outlook report, revised down its global GDP estimate for 2020. Key takeaways “See a huge contraction for the global economy. Global GDP forecast now revised to -3.2% vs. -1.7% back in April. Most of the contraction will be in Q2. We have revised down our growth forecasts for several markets including the US, Italy, the UK, Germany, Japan, Brazil, Mexico, Nigeria, Egypt, Indonesia, the Philippines, Turkey and Poland. Forecast a recovery of 3.6% in 2021.” Market reaction Markets are witnessing a cautious optimism, with the Asian markets flashing green, taking the positive lead from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
