- The New York Fed’s Empire State Manufacturing Index rose in February but remained in negative territory.
- The Dollar Index posts strong daily gains slightly below 104.00.
The General Index of Business Conditions from the survey Empire State Manufacturing of the New York Federal Reserve rallied to -5.8 in February from -32.9 in January. This reading beat market expectations of -18.
“Employment levels declined for the first time since the beginning of the pandemic, and the average work week shortened for the third consecutive month,” the New York Fed noted in its publication.
Regarding the evolution of inflation, “both the increase in the prices of inputs and the sale prices picked up. Looking ahead, companies expect business conditions to improve somewhat in the next six months,” he said. the notice.
Market Reaction
He dollar index it has shot up after the good US data, rising to 103.97, a new five-week high, since last January 6. The greenback is currently trading at 103.74, earning 0.47% daily.
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.
