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US dollar jumps as PMI data upends recession narrative

The recession narrative was flipped on its head today on a strong US PMI from S&P Global. The survey data is a forward-looking indicator and highlights an economy that wasn't bruised by the March bank rout. In addition, the report highlighted growing price pressures in the service sector."The latest reading is indicative of GDP growing at an annualized rate of just over 2%," said Chris Williamson,Chief Business Economist at S&P Global Market Intelligence.It's only one data point and there are pl... Read More

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Dollar

Jumps

Data

Upends

Recession

Narrative

Forex

Posted: Apr 21 2023, 14:18

Author Name: forexlive

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