Economic growth in the US supported the dollar

Analysts of the InvestAZ Investment company reported on the latest situation in the world financial markets this week and what is expected in the short term.

According to the information provided by the company to "APA-Economics", last week the growth of the economy in the United States more than predicted supported the prices of the dollar in the world stock exchanges.

As a result, the growth trend in the EUR-USD pair slowed down, and the dollar rose slightly against other major currencies.

This week, due to the Christmas week, it is likely that there will be stagnation in the stock markets.

In the dollar index (DXY), which is currently at the limits of 104 points, if the "Bulls" can bring the DXY back above the limit of 106 points, the growth trend can rise to the limits of 108 and 110 points.

This week, investors will focus on the housing market and labor market statistics that will be published in America on Wednesday and Thursday.

EUR

In the EUR-USD pair, which showed a horizontal trend last week, if the "Bears" can lower the prices below the $1.06 threshold and ensure its stability there, and if the DXY rises above the 106-point thresholds, the euro may fall to $1.04 against the dollar.

GBP

Last week's deficit GDP indicators in England increased the pressure on the pound sterling, as a result, the GBPUSD exchange rate fell to $1.20.

While markets are expected to remain flat this week, analysts predict the pound will continue to fall.

GOLD

The stronger than forecast economic growth in the US supported the appreciation of the dollar.

As a result, gold fell to $1,780.

However, on the last trading day of last week, support from here, the yellow metal rose slightly and ended the week at $1797.

If the upward trend in the dollar index continues and the "Bears" can bring prices back below the support level of $1,790, the price of the precious metal may drop to $1,739 and $1,720 per ounce.

complementing each other will contribute to the continuous economic growth of our countries.