The BEA’s Commerce Department has reported that the advanced GDP Growth Rate is projected to have shrunk by 0.2% in the first quarter of the year. This marks a significant decline from the previous quarter’s growth of 2.4%. The GDP Price Index, also known as the deflator, remained robust with an annual growth of 3.7%, a notable increase from the previous gain of 2.4%. As a result of these findings, the US Dollar Index (DXY) is now losing steam and approaching the 99.30 area, or daily lows, after the release of this data.