{"id":74877,"date":"2023-12-22T10:58:21","date_gmt":"2023-12-22T08:58:21","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=74877"},"modified":"2025-12-30T12:19:47","modified_gmt":"2025-12-30T10:19:47","slug":"slowdown-of-final-us-gdp-rate-weakens-usd","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/id\/slowdown-of-final-us-gdp-rate-weakens-usd\/","title":{"rendered":"Slowdown of final US GDP rate weakens USD"},"content":{"rendered":"<p>The USD edged lower against its counterparts yesterday, as the GDP rate for Q3 was lower than estimated, landing at 4.9% yoy in the final release. Also, the Philly Fed Business index disappointed traders as it unexpectedly contracted deeper into the negatives. On the other hand, the weekly initial jobless claims figure rose less than expected, highlighting the tightness of the US employment market, which may have eased the bearish tendencies for the greenback somewhat. On the other hand, the US stock markets got renewed support as the slowdown of the US GDP rate may have intensified market expectations for extensive rate cuts by the Fed in the coming year. Attention today is expected to fall on the release of the US Core PCE price index for November, the Fed\u2019s favourite inflation metric and should the rates slow down further, we may see the USD weakening as the market\u2019s expectations for the bank to proceed with extensive rate cuts in the coming year may strengthen further.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"US Core PCE rates for November are due out today\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/l0xPAHS1NDQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Across the Atlantic we note the release of UK\u2019s GDP rates for Q3 which showed a contraction of the UK economy for the past quarter and intensified out worries for its outlook. On the other hand, the pound seems to have gotten some support from the simultaneous release of the retail sales growth rate for November, which accelerated beyond market expectations.<\/p>\n\n\n\n<p>GBP\/USD remained well within the boundaries of its sideways motion namely the 1.2735 (R1) resistance line and the 1.2600 (S1) support level. We tend to maintain our bias for the sideways motion of cable to continue for now given also that the RSI indicator continues to run just above the reading of 50, implying a rather indecisive market. For a bullish outlook, we would require the pair to break the 1.2735 (R1) resistance line and aim for the 1.2880 (R2) resistance level. Should the bears take over, we may see the pair breaking the 1.2600 (S1) support line and aim for the 1.2445 (S2) support level.<\/p>\n\n\n\n<p>During today\u2019s Asian session, Japan\u2019s November CPI rates came out and showed that inflationary pressures in the Japanese economy slowed down even further, corroborating BoJ\u2019s dovish narrative that inflationary pressures are not sustainable and that may keep the lid on any bullish tendencies for the Yen, yet the release as such seemed to have little effect on JPY at the time of the release.&nbsp;<\/p>\n\n\n\n<p>On a technical level USD\/JPY dropped breaking the 143.00 (R1) support line now turned to resistance. We tend to maintain a bearish outlook for the pair as long as the downward trendline, incepted since the 19<sup>th<\/sup> of December remains intact and given that the RSI indicator remains close to the reading of 30 implying the presence of a residue of a bearish sentiment. Should the selling interest be maintained we may see the pair breaking the 141.50 (S1) support line and aim for the 139.75 (S2) support level. Should the pair find extensive buying orders along its path, we may see the pair reversing course, breaking the prementioned downward trendline, in a first signal of an interruption of the downward movement and continuing to break the 141.50 (R1) resistance line and aim for the 143.00 (R2) resistance level.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>Today in the American session, we get the US consumption rate and Core PCE price index, both for November, Canada\u2019s GDP rate for October and the final US University of Michigan consumer sentiment for December. During Monday\u2019s Asian session, we note that BoJ Governor Ueda is scheduled to speak, yet given that markets are to be closed for the Christmas holiday, we do not expect a major impact. Please note that given the season\u2019s holidays, we may see lots of traders being absent and thus thin trading conditions may apply to the markets with unusual market reactions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gbp-usd-h4-chart\"><strong>GBP\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/12\/image-106.png\" alt=\"support at one point two six and resistance at one point two seven three five, direction sideways   \" class=\"wp-image-74878\" title=\"gbp-usd-hundred-daily-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.2600 (S1), 1.2445 (S2), 1.2310 (S3)<\/p>\n\n\n\n<p>Resistance: 1.2735 (R1), 1.2880 (R2), 1.2995 (R3) <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-jpy-h4-chart\"><strong>USD\/JPY H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/12\/image-107.png\" alt=\"support at one hundred forty one point five and resistance at one hundred three, direction downward       \" class=\"wp-image-74879\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 141.50 (S1), 139.75 (S2), 138.10 (S3)<\/p>\n\n\n\n<p>Resistance: 143.00 (R1), 144.45 (R2), 146.30 (R3) <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1991\" height=\"497\" src=\"\/wp-content\/uploads\/2023\/12\/image-108.png\" alt=\"\" class=\"wp-image-74880\" title=\"benchmark-22-12-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1087\" height=\"617\" src=\"\/wp-content\/uploads\/2023\/12\/image-110.png\" alt=\"\" class=\"wp-image-74882\" title=\"table-22-12-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1570\" height=\"1126\" src=\"\/wp-content\/uploads\/2023\/12\/image-109.png\" alt=\"\" class=\"wp-image-74881\" title=\"morning-releases-22-12-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>The USD edged lower against its counterparts yesterday, as the GDP rate for Q3 was lower than estimated, landing at<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-74877","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>US GDP Rate Slowdown Weighs on the Dollar<\/title>\n<meta name=\"description\" content=\"US GDP rate slows in the final Q3 reading, weakening the USD as markets raise expectations for Fed rate cuts and softer growth.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/id\/wp-json\/wp\/v2\/posts\/74877\/\" \/>\n<meta property=\"og:locale\" content=\"id_ID\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Slowdown of final US GDP rate weakens USD\" \/>\n<meta property=\"og:description\" content=\"US GDP rate slows in the final Q3 reading, weakening the USD as markets raise expectations for Fed rate cuts and softer growth.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/id\/slowdown-of-final-us-gdp-rate-weakens-usd\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-22T08:58:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-30T10:19:47+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/slowdown-of-final-us-gdp-rate-weakens-usd\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/slowdown-of-final-us-gdp-rate-weakens-usd\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"Slowdown of final US GDP rate weakens USD\",\"datePublished\":\"2023-12-22T08:58:21+00:00\",\"dateModified\":\"2025-12-30T10:19:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/slowdown-of-final-us-gdp-rate-weakens-usd\\\/\"},\"wordCount\":737,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"id\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/slowdown-of-final-us-gdp-rate-weakens-usd\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/slowdown-of-final-us-gdp-rate-weakens-usd\\\/\",\"name\":\"US GDP Rate Slowdown Weighs on the Dollar\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/#website\"},\"datePublished\":\"2023-12-22T08:58:21+00:00\",\"dateModified\":\"2025-12-30T10:19:47+00:00\",\"description\":\"US GDP rate slows in the final Q3 reading, weakening the USD as markets raise expectations for Fed rate cuts and softer growth.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/slowdown-of-final-us-gdp-rate-weakens-usd\\\/#breadcrumb\"},\"inLanguage\":\"id\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/slowdown-of-final-us-gdp-rate-weakens-usd\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/slowdown-of-final-us-gdp-rate-weakens-usd\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Slowdown of final US GDP rate weakens USD\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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