USD Is In For A Ride As Markets Await US GDP

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1. USD Is In For A Ride As Markets Await US GDP
The dollar stalled this morning as global trade tensions remained elevated. Specifically, U.S. President Donald Trump has been discussing the possibility of joining forces with Germany to counter China’s economic practices. Inevitably, US markets are very prone to volatility at the moment, while the USD is expected to be highly sensitive to upcoming data and specifically the Q4 GDP report, due to be released at 12:30 GMT later today. Finally, perhaps the most important drivers for the dollar’s near-term direction will be the core PCE price index, as well as personal income and spending figures for February, all of which will be released this Thursday. Besides data, any updates on the trade front will also be crucial for the greenback. For a detailed report on upcoming events and data releases please visit BDSwiss’ Economic Calendar.*

2. Oil Prices Plummet On Surprise US Inventory Rise
Oil prices fell back below $70 per barrel this morning, while U.S. West Texas Intermediate crude (USOIL) was last seen trading at $64.67 as of 6:30 GMT. The fall came after the American Petroleum Institute reported a surprise 5.3 million barrels inventory rise in the week to March 23. Official U.S. inventory data will be published by the Energy Information Administration later today, at 14:30 GMT, and is expected to affect crude prices accordingly. A rise in inventory data is expected to cause prices to dip even lower so stay tuned. The latest Crude Oil Inventory data results will be published live on BDSwiss’ Economic Calendar.**

3. GE Soars On Buffet Investment Speculation
General Electric added more than 5.5% today on rumors of an upcoming Buffett investment. The embattled GE stocked jumped to its highest price in the past two years amid speculation that Warren Buffett will buy a stake in the company. The speculations arose after Buffett recently spoke to the press about his interest in GE at the right price. GE’s surge followed a steep decline noted yesterday to its lowest levels since 2009. It is also important to note that the stock has been the worst performer on the Dow this year after also holding the same dubious distinction last year.***

You can find and trade all of the above mentioned equities and commodities on BDSwiss Forex/CFD platforms.

*Source: CNBC

**Source: Bloomberg

***Source: Reuters

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