The dollar hit a new low in the run-up to the Fed's February rate decision, which was likely to raise interest rates by 25 basis points amid widespread expectations that us inflation is falling. Most investors think U. S. inflation might rise a bit one month, but that's just a blip in the numbers. Home prices in the United States have responded to the Fed's policy, and mortgage rates have more than doubled, so the housing market is cooling and rents are falling. Some sectors, such as social media and finance, have started to shed jobs, but services, such as tourism and catering, are doing better. Overall, US inflation is falling. Gold hit a new high yesterday, peaking near 1948.0, driven by a series of falls in the dollar. The preliminary annualised rate of real GDP for the fourth quarter will be the focus of a raft of US economic data due out tonight, which could set the tone for the Fed's January 31-february 1 policy meeting. The U.S. economy is likely to slip into recession this year, but its performance is solid at the end of 2022, and U.S. gross domestic product is likely to grow at a faster-than-usual pace for the second straight quarter of last year, the market is expected to grow solidly by 2.8 per cent.