The Empire Manufacturing index recorded in March its lowest reading ever, by falling to -78.2, a decline much larger than expected. Analysts at Wells Fargo point out the New York area was the epicenter of the coronavirus outbreak, and it is also home to a number of corporate headquarters. Key Quotes: “Highlights the damage wrought by necessary shutdowns.” “All major subcomponents, including new orders, plunged. Delivery times rose, but only due to supply chains in disarray.” “Expected business activity six months ahead actually rose, in anticipation of stronger demand this fall. “The plunge in the Empire Survey would translate to an ISM index of 35 or less. The Empire Survey may exaggerate the extent of weakness nationwide, however, as New York has been the epicenter of the COVID-19 outbreak.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Fed’s Beige Book: All districts reported highly uncertain outlooks among business contacts FX Street 2 years The Empire Manufacturing index recorded in March its lowest reading ever, by falling to -78.2, a decline much larger than expected. Analysts at Wells Fargo point out the New York area was the epicenter of the coronavirus outbreak, and it is also home to a number of corporate headquarters. Key Quotes: “Highlights the damage wrought by necessary shutdowns.” “All major subcomponents, including new orders, plunged. Delivery times rose, but only due to supply chains in disarray.” “Expected business activity six months ahead actually rose, in anticipation of stronger demand this fall. “The plunge in the Empire Survey would translate to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
