US: Philly Fed Nonmanufacturing Index jumps to 38.6 in March from 3.9

Philly Fed Nonmanufacturing Index improved decisively in March.
US Dollar Index clings to strong daily gains above 92.00.

The Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey rose sharply to 38.6 in March from 3.9 in February.

Further details of the publication revealed that the Firm-level Business Activity Index improved to 33.5 from 7.5 and the Full-time Employment Index edged higher to 9 from 2.8.

Market reaction

This report doesn’t seem to be having a significant impact on the USD’s performance against its major rivals. As of writing, the US Dollar Index was up 0.4% on the day at 92.11.

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