Home US: NY Fed’s GDP Nowcast falls to 4.6% for Q2 after this week’s data
FXStreet News

US: NY Fed’s GDP Nowcast falls to 4.6% for Q2 after this week’s data

The US economy is expected to grow by 4.6% in the second quarter of 2021, 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:Q2 by 0.3 percentage point,” the NY Fed explained in its publication. “A negative surprise from housing starts data drove the decrease.”

Market reaction

This report doesn’t seem to be having a noticeable impact on the greenback’s performance against its rivals. As of writing, the US Dollar Index was up 0.23% on the day at 89.95.

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.