Atlanta Fed GDPNow GDP estimate for Q1 rises to 1.3% from 0.9% on March 24

The Atlanta Fed GDPNow forecast for Q1 growth saw a rise to 1.3% from 0.9% on March 24. In their own words:

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2022 is1.3 percenton March 31, up from 0.9 percent on March 24. After this morning's personal income and outlays report from the US Bureau of Economic Analysis, an increase in the nowcast in first-quarter real gross private domestic investment growth from -5.8 percent to -1.2 percent was slightly offset by a decrease in the nowcast in first-quarter real personal consumption expenditures growth from 4.2 percent to 3.9 percent. Also, the nowcast of the contribution of net exports to first-quarter real GDP growth decreased from -1.01 percentage points to -1.31 percentage points."

The next estimate will come tomorrow.

/ Federal Reserve  Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the US while buttressing a financial system for the country. Its general duties are setting and guiding monetary policy and overseeing effective economic operation, both of which are at the service of the public interest.How the Federal Reserve Affects ForexThe Fed can materially impact the US dollar by virtue of the interest rate it sets, measured by the Board of Governors of the Federal Reserve System. The current interest rate and the expectations of future interest rate changes can influence the value of the US Dollar. For example, if traders anticipate a change in interest rates based on announcements from the Board of Governors, this can cause the US dollar to appreciate or depreciate in value against other currencies.Forex traders should always be aware of meetings and announcements from the Fed and should keep track of developments within the central bank.Ultimately, the Federal Open Market Committee (FOMC) holds eight regular meetings per calendar year, where policies and interest rates are discussed and agreed upon. The best course of action is to keep up with news ahead of these meetings as a forex trader to make predictions about interest rates, and whether to buy or sell the US dollar. The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the US while buttressing a financial system for the country. Its general duties are setting and guiding monetary policy and overseeing effective economic operation, both of which are at the service of the public interest.How the Federal Reserve Affects ForexThe Fed can materially impact the US dollar by virtue of the interest rate it sets, measured by the Board of Governors of the Federal Reserve System. The current interest rate and the expectations of future interest rate changes can influence the value of the US Dollar. For example, if traders anticipate a change in interest rates based on announcements from the Board of Governors, this can cause the US dollar to appreciate or depreciate in value against other currencies.Forex traders should always be aware of meetings and announcements from the Fed and should keep track of developments within the central bank.Ultimately, the Federal Open Market Committee (FOMC) holds eight regular meetings per calendar year, where policies and interest rates are discussed and agreed upon. The best course of action is to keep up with news ahead of these meetings as a forex trader to make predictions about interest rates, and whether to buy or sell the US dollar. Read this Term