The US economy is expected to. grow 4.2% and 5.3% in the second and third quarters of 2021, respectively, as the latest Report showed on Friday Nowcasting from the Federal Reserve Bank of New York.
“The news of this week’s data release lowered the immediate forecast for 2021: second quarter by 0.2% and lowered the immediate forecast for 2021: third quarter by 0.1%,” the New York Fed explained in its release. “Negative surprises in international trade data explained most of the decline in both quarters.”
Market reaction
This report does not appear to have a significant impact on the performance of the USD against its rivals. At time of writing, the US Dollar Index was up 0.6% on the day at 90.60.
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