The US economy is expected to grow by 6.1% in the first quarter of 2021 and 0.7% in the second quarter, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday. “News from this week’s data releases decreased the nowcast for 2021:Q1 by 0.2 percentage point and decreased the nowcast for 2021:Q2 by 0.5 percentage points,” the NY Fed explained in its publication. “Negative surprises from personal consumption expenditures, manufacturers’ shipments of durable goods, and housing data drove the decrease in both quarters.” Market reaction The US Dollar Index largely ignored this report and was last seen posting small daily losses at 92.74. 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/USD: Nonfarm Payrolls and Biden set to deal another blow to virus-ravaged euro Yohay Elam 8 months The US economy is expected to grow by 6.1% in the first quarter of 2021 and 0.7% in the second quarter, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday. "News from this week's data releases decreased the nowcast for 2021:Q1 by 0.2 percentage point and decreased the nowcast for 2021:Q2 by 0.5 percentage points," the NY Fed explained in its publication. "Negative surprises from personal consumption expenditures, manufacturers' shipments of durable goods, and housing data drove the decrease in both quarters." Market reaction The US Dollar Index largely ignored this report and was last… Top 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.
