- Empire Index unexpectedly falls to negative ground in March.
- The dollar remains in negative territory due to a rebound in the stock markets.
- The FOMC meeting begins, the interest rate is expected to rise.
The activity index for the New York region, manufacturing empire It went from 3.1 in February to plummet to -11.8, with the market consensus for a rise to 7. It is the first negative reading since the pandemic, the lowest level since May 2020.
The new order rate went from 2.9 to -7.4, that of job from 23.1 to 14.5 and that of prices paid from 76.6 to 73.8.
At the same time, the wholesale inflation report was published, showing figures slightly below expectations. The dollar remained in negative territory for the day, and close to the lows, weakening even more in the last hour due to the acceleration in the rebound of the markets in the world.
Tuesday begins the two-day meeting of the Federal Reserve. The FOMC will announce its decision on Wednesday, which would be a rise in interest rates, the first since 2018. The guidelines for the future will be key for the market.
Source: Fx Street
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