Atlanta Fed's GDPNow ticks up to 2.7% from 2.6% for first quarter of 2020

The real gross domestic product (GDP) in the United States is expected to expand by 2.6% in the first quarter of 2020, the Federal Reserve Bank of Atlanta said in its latest GDPNow report.

"After last week's and this week's data releases by the National Association of Realtors, the US Census Bureau and the US Bureau of Economic Analysis, the nowcast of first-quarter real gross private domestic investment growth increased from 6.4% to 7.7% and the nowcast of the contribution of change in real net exports to first-quarter real GDP growth increased from -0.27 percentage points to -0.23 percentage points," the Atlanta Fed explained in its publication.

DXY slumps below 98.50

The US Dollar Index (DXY) ignored this data and continues to push lower pressured by a more-than-6% fall seen in the 10-year US Treasury bond yield. As of writing, the DXY was down 0.7% on the day at 98.45.