US: NY Fed’s GDP Nowcast unchanged at 2.86% for Q4 after this week’s data

The  US  economy is expected to expand by 2.86% in the fourth quarter, the  Federal Reserve Bank  of New York’s latest Nowcasting Report showed on Friday.  

“A positive impact from JOLTS data was offset by negative surprises from CPI data, leaving the nowcast broadly unchanged,” the NY Fed explained in its publication.

Market reaction

This report doesn’t seem to be having a significant impact on the greenback’s performance against its rivals. As of writing, the US Dollar Index was down 0.17% on a daily basis at 92.80.