Gold Price is still Bullish Forex Trading Gold Broker Newyear 2023 Money Markets
The International Monetary Fund had already warned in October that more than a third of the global economy would contract and that there was a 25% chance of global GDP growth of less than 2% in 2023, which is defined as a global recession.
However, the outlook for the world's largest economy may provide a respite. "If the US labor market remains resilient, the US will help the world get through a very difficult year," Georgieva added. And on the other hand. Stock markets started the new year on a mixed note, with European indices opening higher on Monday after a lackluster session for a few Asian markets that did not close for the New Year holidays. US markets are also closed.
Over the weekend, a report showed that Chinese manufacturing contracted for the third consecutive month in December, in the biggest decline since February 2020, as the country grapples with a nationwide surge of COVID-19 after anti-pandemic measures were suddenly eased. Overall, it is uncertain what impact the removal of strict COVID-19 policies that have hampered the production of raw materials and commodities and discouraged travel will have on the global economy
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