Empire Manufacturing Index rises more than expected in March to 17.4, the highest level since 2018

  • Empire Manufacturing Index rises to 17.4 in March, highest reading since November 2018.
  • The dollar rises modestly after the report.

The manufacturing survey, known as Empire, prepared by the regional bank of the Federal Reserve of New York, showed a rise in the main index in March, climbing to 17.4, from 12.1; the reading being higher than the market consensus which was 14.5.

The report highlights that the index of new orders went from 10.8 to 9.1. The one of prices paid from 57.8 to 64.4, being the highest reading since May 2011. job, fell from 12.1 to 9.4.

After knowing the data, the dollar it was moderately appreciated, adding to the positive tone it had brought since the second half of the European session.

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