US: NY Fed's GDP Nowcast unchanged at 2.86% for Q4 after this week's data

Eren Sengezer FXStreet

The US economy is expected to expand by 2.86% in the fourth quarter, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday.

"A positive impact from JOLTS data was offset by negative surprises from CPI data, leaving the nowcast broadly unchanged," the NY Fed explained in its publication.

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 0.17% on a daily basis at 92.80.

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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