IMF's Lagarde: Global growth has reached a turning point

Eren Sengezer FXStreet

The Managing Director of the International Monetary Fund, Christine Lagarde, crossed the wires last minutes, via LiveSquawk, saying that global growth has reached a turning point, outturns in H2 2016 were generally solid.

Key quotes

IMF projected a pickup in global growth this year and next—to 3.4 and 3.6% —compared to 3.1% in 2016
Expected US fiscal stimulus one reason for improved outlook in advanced economies
A changing U.S. policy mix may also create knock-on effects or spillovers
IMF especially encouraged by stronger-than-expected economic activity in the EZ, the UK & Japan

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD climbs to daily highs on US CPI

EUR/USD now accelerates it rebound and flirts with the 1.1880 zone on Friday, or daily highs, all in response to renewed selling pressure on the US Dollar. In the meantime, US inflation figures showed the headline CPI rose less than expected in January, removing some tailwinds from the Greenback’s momentum.

GBP/USD clings to gains above 1.3600

GBP/USD reverses three consecutive daily pullbacks on Friday, hovering around the low-1.3600s on the back of the vacillating performance of the Greenback in the wake of the release of US CPI prints in January. Earlier in the day, the BoE’s Pill suggested that UK inflation could settle around 2.5%, above the bank’s goal.

Gold: Upside remains capped by $5,000

Gold is reclaiming part of the ground lost on Wednesday’s marked retracement, as bargain-hunters seem to have stepped in. The precious metal’s upside, however, appears limited amid the slightly better tone in the US Dollar after US inflation data saw the CPI rise less than estimated at the beginning of the year.