A small disappointed in the US: the Empire State Manufacturing Index rose to positive territory, but certainly fails to convince with 3.09 points.
The US dollar is slightly weaker, but we have more important data coming later on, in a week that saw quite a lot of volatility. Update: the US dollar is enjoying a fresh surge.
The number was expected to return to positive territory: from -1.2 to to 5.1 points in May.
The greenback enjoyed some kind of recovery from the post-retail sales blow. Sales remained flat and this hit the dollar hard. With better than expected jobless claims, the greenback managed to claw back some ground, but the general picture is of worry regarding the US economy.
This early release for May comes at a sensitive time towards the weekend and after a significant USD sell-off earlier in the week.
We later get industrial output and the capacity utilization rate. These are figures for April. More importantly, US consumer confidence is coming.
In our latest podcast, we ask: USD: Glass half full or half empty? And also discuss other topics: