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28 Feb 2020

NY Fed's GDP Nowcast edges higher to 2.1% from 2% for first quarter of 2020

The US economy is expected to expand by 2.1% in the first quarter of 2020, the Federal Reserve Bank of New York's latest Nowcasting Report showed.

"News from this week’s data increased the nowcast for 2020:Q1 by 0.1 percentage point," the publication read. "Positive surprises from manufacturing and housing data accounted for most of the increase."

USD selloff

Rising probability of a Federal Reserve rate cut and plummeting US Treasury bond yields this week caused the USD to weaken against its rivals. Although it was able to stage a rebound from the three-week low that it set at 98.02 earlier in the day, the US Dollar Index remains on track to close the week 1% lower around 98.30.

Feb 28, 2020

USD/CAD pulls away from multi-month highs, clings to small daily gains near 1.3400

The USD/CAD pair rose to its highest level since June at 1.3464 during the early trading hours of the American session on Friday but struggled to pres
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Feb 28, 2020

USD/CHF Price Analysis: Dollar trading off 17-month lows, remains vulnerable vs. Swiss franc

USD/CHF is trading below the main daily simple moving averages suggesting an overall bearish momentum in the long term. The spot bounced from 17-month lows ho
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