After the minutes of the US Federal Reserve meeting were announced two weeks ago, yesterday, Wednesday, the markets are awaiting the revised reading of US GDP growth, which will be released today in the American session, before the inflation data is announced, represented by the PCE index or the personal consumption expenditures index, the Fed’s preferred indicator for measuring inflation. At the end of the week, tomorrow, Friday.

The minutes of the US Federal Reserve in which members supported an increase in the interest rate by 50 basis points at the meeting of the fourth of May to combat high inflation.

It is still standing strong despite the economic risks of war in Russia and Ukraine, lockdown restrictions in China and supply chain disruptions.

Atlanta Fed President Rafael Bostik indicated in his statements yesterday, Wednesday, that the bank should not rush to approve rate hikes this year, and that the state of uncertainty dominates the economic outlook.

The importance of the data that will be released today and tomorrow is that it will reflect the extent of market fears of the possibility of an economic recession or not, as any reading worse than -1.4 percent in today’s growth review will exacerbate fears of an inflationary stagnation and cast a negative shadow on the markets, as it will force the US Federal Reserve to retreat.

And stop temporarily tightening monetary policy at some point. In addition to the growth data, the markets will also be watching the weekly unemployment benefits index and pending home sales from the United States of America, in addition to the Canadian retail sales, while the European markets will be on the holiday for Easter.

The general index of the US dollar is trading at some rise this Thursday morning, while the euro is trading at 1.0677 levels.