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NY Fed's GDP Nowcast rose to 1.7% for first quarter of 2020 from 1.5%

The US economy is expected to expand by 1.7% 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 0.2 percentage point," the publication read. "Positive surprises from higher-than-expected exports and imports data were only partially offset by negative surprises from the ISM manufacturing survey."

USD outperforms major rivals

Supported by this week's upbeat macroeconomic data releases, the US Dollar Index gained traction and rose to its highest level since early October at 98.70 on Friday. On a weekly basis, the index is up 1.35%. 

USD/JPY steadies near 109.80, looks to add more than 100 pips for the week

The USD/JPY pair is trading in the negative territory on Friday as the sour market mood helps the JPY stay strong against the USD. As of writing, the
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USD/INR Price Analysis: Greenback challenges the 71.60 resistance vs. rupee

After the 2018 bull-market, USD/INR has been consolidating in a rectangle formation. The spot is evolving above its main weekly simple moving averages (SMAs),
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