WS #16550
Strong US GDP data has reinforced expectations for a Federal Reserve rate hike, putting pressure on gold prices which fell near $4,000 and strengthening the US dollar. This macro backdrop is challenging for growth stocks and commodities priced in dollars, while benefiting financials. The data comes just days before midterm elections, adding political uncertainty to the economic outlook.
US Macro Data and Fed Policy
Strong US GDP data has reinforced expectations for a Federal Reserve rate hike, putting pressure on gold prices which fell near $4,000 and strengthening the US dollar. This macro backdrop is challenging for growth stocks and commodities priced in dollars, while benefiting financials. The data comes just days before midterm elections, adding political uncertainty to the economic outlook.