According to the Federal Reserve Bank of New York’s latest Nowcasting Report, the US economy is predicted to increase by 3.2 percent and 3.9 percent in the second and third quarters of 2021, respectively.
The NY Fed said in its publication that “news from this week’s data releases decreased the nowcast for 2021:Q2 by 0.2 percentage point and dropped the nowcast for 2021:Q3 by 0.2 percentage point.” “The majority of the drop in both quarters was due to negative shocks from the ISM Manufacturing survey and international trade statistics.”
Market players mostly ignored the report, and the US Dollar Index ended the day with minor daily losses at 92.43.
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