The US economy is expected to grow by 6.5% in the first quarter of 2021, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday. Additional takeaways “The advance estimate from the Commerce Department of real GDP growth for 2020:Q4, released on January 28, was 4.0%. The latest New York Fed Staff Nowcast for 2020:Q4 was 2.6%.” “News from this week’s data releases decreased the nowcast for 2021:Q1 by 0.1 percentage point.” “A negative surprise from personal consumption data was partially offset by a positive impact in manufacturers’ inventories data.” Market reaction The US Dollar Index showed no reaction to this report and was last seen posting small daily gains at 90.52. 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 Fed to maintain ultra-loose policy stance throughout this year – Capital Economics FX Street 1 year The US economy is expected to grow by 6.5% in the first quarter of 2021, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday. Additional takeaways "The advance estimate from the Commerce Department of real GDP growth for 2020:Q4, released on January 28, was 4.0%. The latest New York Fed Staff Nowcast for 2020:Q4 was 2.6%." "News from this week’s data releases decreased the nowcast for 2021:Q1 by 0.1 percentage point." "A negative surprise from personal consumption data was partially offset by a positive impact in manufacturers’ inventories data." Market reaction The US Dollar Index showed… 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.
