New York Fed: GDP growth expectations for Q3 drops to 2.6%

"The New York Fed Staff Nowcast for 2018:Q3 stands at 2.6%," the Federal Reserve Bank of New York reported on Friday.

"News from this week's data releases decreased the nowcast for 2018:Q3 by 0.2 percentage point."

"Negative surprises from exports and imports data and from the ISM surveys accounted for most of the decrease."

Aug 3, 2018

USD/JPY edges lower toward 111, looks to record modest gains for the week

The USD/JPY pair came under a renewed selling pressure in the NA session and extended its losses to touch a fresh daily low at 111.10. As of writing,

Interest rate differentials to support modest appreciation in USD/JPY towards 115 - Rabobank

"The July 31 Bank of Japan policy meeting had a polarising impact on the market. Market hawks judged that the Bank may relax its commitment to its cur