Atlanta Fed: GDPNow model forecast for real GDP growth in Q3 rose to 2.7%

Eren Sengezer FXStreet

"The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2017 is 2.7 percent on October 2, up from 2.3 percent on September 29," the Federal Reserve Bank of Atlanta announced on Monday.

Key takeaways:

The forecasts for third-quarter real consumer spending growth and third-quarter real private fixed investment growth increased from 1.8 percent and 0.3 percent, respectively, to 2.3 percent and 1.8 percent, respectively, after this morning's construction spending release from the U.S. Census Bureau and this morning's Manufacturing ISM Report On Business from the Institute for Supply Management (ISM).
The model's estimate of the dynamic factor for September—normalized to have mean 0 and standard deviation 1 and used to forecast the yet-to-be-released monthly GDP source data—increased from 0.04 to 1.59 after the ISM report.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD remains offered below 1.1600, seems vulnerable near multi-month low

The EUR/USD pair struggles to capitalize on the overnight bounce from the 1.1530 region, or the lowest level since November 2025, and lower for the third consecutive day on Wednesday. Spot prices slide back below the 1.1600 mark during the Asian session and seem vulnerable to slide further.

GBP/USD slips below key averages as geopolitical risks mount

GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.

Gold bounces back toward $5.200 amid sustained safe-haven flows

Gold bounces back toward $5,200 in Wednesday's Asian session, moving away from an over one-week low. Sustained safe-haven flows, amid escalating geopolitical tensions in the Middle East, act as a tailwind for the bullion. However, a bullish US Dollar and reduced bets for more aggressive easing by the US Fed might keep a lid on the non-yielding yellow metal ahead of the US ADP report and ISM Services PMI data due later in the day.