Fed's Bullard: Growth will continue into the first quarter

Ross J Burland FXStreet

St. Louis Federal Reserve President James Bullard speaking at a Bank conference has said that economic growth will continue into the first quarter of next year.

In prior comments made in a news release at the start of the week, Bullard said US macroeconomic news has surprised dramatically to the upside and that economic activity will likely show outsized growth in the third quarter.

Market implications

Meanwhile, the US dollar has been under pressure for a number of days in what appears to be a temporary correction.

Positive data and economic traction could help to lift the greenback vs a backdrop in Europe where hopes of economic recovery have faded since the revival of the coronavirus spread.

EUR/USD bullish prospects are fraying and the US dollar is on the verge of 'Wave-5'

DXY on the verge of completing Wave-4 of 5-wave forecast

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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