In the UK, the GDP we track for the third quarter fell short of expectations, shrinking by 0.3% on a quarterly basis, while growing by 1.9% on an annual basis. The economy was expected to contract by 0.2% on a quarterly basis and to grow by 1.9% on an annual basis.

After the meeting held today, the CBRT did not change the 9% interest rate as expected. In the statement, it was stated that the disinflationary process is foreseen to begin with the re-establishment of the global peace environment, together with the steps taken and determinedly implemented to strengthen sustainable price stability and financial stability.

The US GDP for the third quarter, which was announced today, grew by 3.2%, exceeding the expectations of 2.9%. The PCE Price Index, which was closely followed by the FED during the interest rate hike, increased by 4.3% and the Core PCE Price Index increased by 4.7%. In the previous data, the PCE Price Indices came in at 4.3% and 4.6% respectively. After the strong data, the Dollar Index gained value with the expectations that the FED will continue to increase interest rates.