The US economy is expected to contract by 30.5% in the second quarter of the year, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday. “News from this week’s data releases increased the nowcast for 2020:Q2 by 0.6 percentage point,” the NY Fed said in its publication. “Housing data were less negative than the model’s expectations, accounting for most of the nowcast increase.” Market reaction The US Dollar Index largely ignored this publication and was last seen gaining 0.4% on the day at 99.82. 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 EUR/JPY Price Analysis: Euro easing from May’s highs, trades near 117.00 figure FX Street 3 years The US economy is expected to contract by 30.5% in the second quarter of the year, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday. "News from this week’s data releases increased the nowcast for 2020:Q2 by 0.6 percentage point," the NY Fed said in its publication. "Housing data were less negative than the model’s expectations, accounting for most of the nowcast increase." Market reaction The US Dollar Index largely ignored this publication and was last seen gaining 0.4% on the day at 99.82. 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.
