He Empire Manufacturing Index produced by the New York Federal Reserve (Fed) has fallen six tenths in July, standing at -6.6 points from -6 previously, registering its eighth consecutive month in the red. The figure worsens market expectations, as it was expected to remain unchanged at -6 points.
According to the statement, new orders remained stable, while shipments increased slightly. Delivery times were shortened and supply availability remained unchanged. Inventories fell. Labor market conditions remained weak and employment continued to contract.Input prices rose modestly, while sales price increases were rather small. Businesses were fairly optimistic that conditions would improve in the coming months.
US Dollar Reaction
The Dollar Index (DXY) has fallen in the European morning, testing five-and-a-half-week lows already touched on Friday at 104.04. However, it has now regained some momentum and is trading above 104.17, losing 0.08% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
