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Recap: USD Climbs After GDP Surprise, JPY Volatility BoJ & MORE | Trade Zone with Joe Jeffriess

Published: 28.07.2023
by Joseph Jeffriess

Thanks for checking out this week’s wrap-up. In this episode:

USD – A fightback risk for USD, ending the week weaker with gold.

JPY – Lots of action from the JPY this Friday.

The Fed and ECB hike rates – Interest rates continue to rise, but statements fail to generate volatility.

US GDP – Data came in above expectations, fitting in with the Fed’s comments. The result? A firm boost for USD, while the Dow’s run was halted for now.

Bank of Japan – Japan’s central bank set off some fireworks with its comments, sparking volatility for JPY.

PCE index – Another inflationary data piece, with next week’s NFB another potential booster for the USD if it comes in hotter. Worries have started and could continue if data continues to support a hotter-than-expected economy, increasing the possibility of further rate rises.

This week’s recap analysis


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