The US economy is expected to expand by 1.5% in the first quarter of 2020, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday. The forecast for the second quarter plunged to 0.1% from 1.1% in the previous week. “Negative surprises from regional survey data were only partially offset by positive surprises from industrial production and capacity utilization data,” the NY Fed noted in its publication. “Regional manufacturing survey data, which historically convey significant information at the beginning of the reference quarter, drove the sizeable decline of the nowcast in 2020:Q2.” Market reaction Wall Street’s main indexes lost their recovery momentum and are trading mixed. As of writing, the Dow Jones Industrial Average was flat on the day while the Nasdaq Composite was up 0.8%. On the other hand, the S&P 500 is down 0.65%. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: Trading with lower leverage is warranted FX Street 2 years The US economy is expected to expand by 1.5% in the first quarter of 2020, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday. The forecast for the second quarter plunged to 0.1% from 1.1% in the previous week. "Negative surprises from regional survey data were only partially offset by positive surprises from industrial production and capacity utilization data," the NY Fed noted in its publication. "Regional manufacturing survey data, which historically convey significant information at the beginning of the reference quarter, drove the sizeable decline of the nowcast in 2020:Q2." Market reaction Wall Street's main… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
