According to the Federal Reserve Bank of Atlanta's GDPNow model, the US economy is expected to grow at an annualized rate of 0.3% in the third quarter, unchanged from the previous estimate.

"After releases from the National Association of Realtors and the US Census Bureau, the nowcast of third-quarter gross private domestic investment growth decreased from -7.4% to -7.6%," the Atlanta Fed further explained in its publication.

Market reaction

The US Dollar Index largely ignored this report and was last seen trading in negative territory below 114.00.