- Analytics
- News and Tools
- Market News
- US: Philadelphia Fed Manufacturing Index drops to -12.3 in July vs. 0 expected
US: Philadelphia Fed Manufacturing Index drops to -12.3 in July vs. 0 expected
- Philadelphia Fed Manufacturing Index fell sharply in July.
- US Dollar Index stays deep in negative territory near 106.50.
The Federal Reserve Bank of Philadelphia's Manufacturing Business Outlook Survey's diffusion index for current general activity declined to -12.3 in July from -3.3 in June. This print missed the market expectation of 0 by a wide margin.
Additional takeaways
"The index for new orders declined for the second consecutive month, from -12.4 to -24.8."
"The current shipments index rose from 10.8 to 14.8. The indexes for current inventories and unfilled orders were negative, at -9.3 and -10.4, respectively."
"On balance, the firms continued to report increases in employment, but the employment index declined 9 points to 19.4, its lowest reading since May 2021."
Market reaction
The greenback struggles to find demand after this report and the US Dollar Index was last seen losing 0.5% on the day at 106.50.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
