US: Atlanta Fed GDPNow for Q1 rises to 2.1%
|According to the Federal Reserve Bank of Atlanta's GDPNow model, the US economy is expected to grow at an annualized rate of 2.1% in the first quarter, up from 0.7% in the previous estimate.
"After releases from the US Census Bureau, the Institute for Supply Management, the US Bureau of Labor Statistics, and the US Bureau of Economic Analysis, the nowcasts of first-quarter gross personal consumption expenditures growth, and first-quarter gross private domestic investment growth increased from 1.9% and -9.3%, respectively, to 3.0% and -6.2%, respectively," Atlanta Fed explained in its publication.
Market reaction
This report doesn't seem to be having a noticeable impact on the US Dollar's performance against its rivals. As of writing, the US Dollar Index was posting small daily gains at 103.67.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.