- New York region manufacturing activity index experiences unexpected rise.
- Empire Index rises to 11.1 with a drop to -2 expected.
- Retail sales data also exceed expectations.
The Empire Manufacturing Index recorded an unexpected rise from -1.2 to 11.1 in July, with the market consensus being for a reading of -2. At the same time, an increase in retail sales was also reported in June, which was above expectations. The dollar, after an initial rise, weakened and set new daily lows against most of its rivals.
In the report details Manufacturing Empire the index of new orders stands out from 5.3 to 6.2; that of prices paid went from 78.6 to 64.3; that of employment went from 19.0 to 18.0; that of shipments from 4 to 25.3 and that of inventories from 17.1 to 14.8.
Industrial production and consumer confidence data from the University of Michigan will be released later on Friday.
Source: Fx Street
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