According to the Federal Reserve Bank of New York’s latest Nowcasting Report, the United States economy is expected to expand by 2.1% in the third quarter of the year and 1.8% in the last quarter.
“News from this week’s data releases decreased the nowcast for both 2019:Q3 and 2019:Q4 by 0.2 percentage point,” the NY Fed said in its press release. “Negative surprises from manufacturing data accounted for the decrease.”
The market largely ignored this data and the US Dollar Index remains on track to finish the week above the 99 handle.
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