IMF cuts Euro Zone GDP forecasts

Market news

8 July 2016

IMF cuts Euro Zone GDP forecasts

- GDP decelerating to 1.4% from 1.6% this year.

- further slowdown in global growth could derail Eurozone's domestic-led recovery.

- downside risks include further Brexit spillover

- Medium-term growth prospects 'mediocre' with annual growth in 5 years at 1.5%.

- Brexit impact on Eurozone will be worse if risk aversion continues for long period.

Gold declined sharply after NFP but recovers

The US dollar changed direction and fell against other major currencies after profit taking for the week and downward revisions for the data in May. The unemployment rate growth and a lower than forecast increase in the average hourly wage take their toll

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.