- Philly Fed Manufacturing Index weakened more than expected in August.
- US Dollar Index holds above 93.30 after the data.
The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey dropped to 19.4 in August from 21.9. This reading came in weaker than the market expectation of 23.
Further details of the publication revealed that the New Orders Index improved to 22.8 from 17, the Employment Index edged higher to 32.6 from 29.2 and the Prices Paid Index rose to 71.2 from 69.7. Finally, the Six-month Business Conditions Index declined to 33.7 from 48.6.
Market reaction
These figures don't seem to be having a noticeable impact on the USD's performance against its major rivals. As of writing, the US Dollar Index was rising 0.2% on the day at 93.33.
