USD is raging again. Overview for 24.02.2023

EURUSD is falling deeper down. The current quote is 1.0600.

The statistics from yesterday demonstrated that the US economy in Q4 2022 grew by 2.7%. This is the second calculation, and it is not quite typical: the indicator declined after the revision, though normally it does quite the opposite. The initial calculation suggested growth by 2.9%, and no changes had been expected.

Such moderate growth of the GDP might mean that the tight monetary policy of the Fed has more serious influence than expected.

Weak growth of the GDP was a nice surprise for those waiting for a pause in the series of tightening of the credit and monetary policy.

The EU brough us great news about a decline of the inflation pressure. The CPI in January grew by 8.6% y/y after growing by 9.2% earlier. However, it still turned out inferior to the forecast 8.5%.

Investors remain at the USD side because the Fed's strategy looks more solid than that of the ECB.