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NY Fed's GDP Nowcast jumps to 2% from 1.4% for first quarter of 2020

The US economy is expected to expand by 2% 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 0.6 percentage point," the publication read. "Positive surprises from regional survey and housing data drove most of the increase."

USD loses traction on Friday

After advancing to its highest level since April 2017 at 99.91 on Thursday, the US Dollar Index lost its traction on Friday and extended its slide after disappointing Markit PMI figures. As of writing, the index was down 0.57% on the day at 99.31.

Saudi energy minister: Report on Saudi Arabia considering break from OPEC+ “utter nonsense”

Commenting on the Wall Street Journal report claiming that Saudi Arabia was considering a break from the OPEC+ alliance, Saudi Energy Minister Prince
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USD/CHF Price Analysis: Dollar trading in five-day lows vs. Swiss franc, sub-0.9800 figure

After hitting new 2020 highs every day of the week, USD/CHF is erasing the gains and trading near five-day lows. The spot is trading below the 100/200-day simp
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