NY Fed's GDP Nowcast unchanged at 15.6% for Q3 after this week's data releases

Eren Sengezer FXStreet

The US economy is expected to expand by 15.6% in the third quarter and 7.3% in the fourth quarter, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday.

"News from the JOLTS, PPI, and CPI releases were small, leaving the nowcast for both quarters broadly unchanged," the NY Fed noted in its press release.

Market reaction

This report doesn't seem to be having a significant impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was down 0.05% on a daily basis at 93.31.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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