The US economy is expected to expand by 16.8% in the third quarter of the year, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday. Key takeaways “The advance estimate from the Commerce Department of real GDP growth for 2020:Q2, released on July 30, was -32.9%. The latest New York Fed Staff Nowcast for 2020:Q2 was -13.7%.” “News from this week’s data releases increased the nowcast for 2020:Q3 by 3.5 percentage points.” “Positive surprises from manufacturers’ shipments of durable goods, wholesale inventories, and personal consumption data drove most of the increase for 2020:Q3.” Market reaction The US Dollar Index paid little to no mind to this report and was last seen gaining 0.1% on a daily basis at 93.06. 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 S&P rates EU’s long-term foreign currency at AA – Reuters FX Street 3 years The US economy is expected to expand by 16.8% in the third quarter of the year, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday. Key takeaways "The advance estimate from the Commerce Department of real GDP growth for 2020:Q2, released on July 30, was -32.9%. The latest New York Fed Staff Nowcast for 2020:Q2 was -13.7%." "News from this week’s data releases increased the nowcast for 2020:Q3 by 3.5 percentage points." "Positive surprises from manufacturers’ shipments of durable goods, wholesale inventories, and personal consumption data drove most of the increase for 2020:Q3." Market reaction The… 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.
