US Dollar Recovers With Support of OECD Forecast
The US dollar is recovering with the support of the Organization for Economic Cooperation and Development (OECD) data, which predicts that the US economic growth will accelerate next year.
The Organization for Economic Cooperation and Development published its semi-annual report on the prospects for economic development. OECD projects further acceleration in global growth in 2018. It is expected, that the world economy will grow by 3.6% in 2017, and it will accelerate to 3.7% in 2018, and then decrease to 3.6% in 2019. It is also projected, that the US economy will grow by 2.2% in 2017, by 2.5% in 2018, and will slow to 2.1% in 2019.
It is expected, that the growth in the Eurozone will reach 2.4% in 2017, and then fall to 2.1% in 2018 and 1.9% in 2019. According to forecasts, economic growth in Japan will reach a maximum in 2017 by 1.5%, and then decline to 1.2% in 2018, and to 1.0% in 2019. Economic growth in the UK will continue to 1.5% in 2017, but then decline to 1.2% in 2018, and 1.1% in 2019.
German Gfk consumer sentiment has not changed and remained at the level of 10.7. Import price grew by 0.6% mom in October. Eurozone M3 increased by 5.0% yoy in October.