US GDP Revised Lower
GDP decreased by 6.4% in Q4 of 2008
Just a day after president Barack Obama presented his 2010 budget, the revision in 4th quarter GDP data was made. However, the news is grim indeed, with the revised GDP decreasing by 6.4% — even more than thought.
The news is actually sending the US dollar higher in forex trading on the currency market. The greenback is gaining rather dramatically in currency trading as safe haven demand is renewed.
News the things are worse than previously thought for the U.S. economy is resulting in a flight to safety on the concern that the global economy will not be recovering anytime soon. As a result, there is a trend toward capital preservation in what is considered the world’s most stable currency.
See Also
- More on Capital Preservation
Trying to protect what one already has in this economy - Greenback in Currency Trading
Forex trading on the currency market
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