Manufacturing activity in Philadelphia region gathers momentum in February. US Dollar Index clings to daily gains below 100 after upbeat data. The economic activity in the manufacturing sector of the Philadelphia region expanded at a strong pace in February with the headline Diffusion Index of the Philly Fed’s Manufacturing Business Outlook Survey jumping to 36.7 from 17 in January. This reading, which is the highest since February 2017, also beat the market expectation of 12 by a wide margin. “The index for new orders increased 15 points to 33.6, its highest reading since May 2018,” the publication read. “The survey’s current employment index remained positive but moderated this month. The survey’s future indexes indicate that respondents continue to expect growth in manufacturing activity over the next six months. USD reaction Despite the upbeat data, the US Dollar Index struggled to gain traction and was last up 0.25% on the day at 99.84. 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 Clarida: Fundamentals of US economy remain solid into 2020 FX Street 2 years Manufacturing activity in Philadelphia region gathers momentum in February. US Dollar Index clings to daily gains below 100 after upbeat data. The economic activity in the manufacturing sector of the Philadelphia region expanded at a strong pace in February with the headline Diffusion Index of the Philly Fed's Manufacturing Business Outlook Survey jumping to 36.7 from 17 in January. This reading, which is the highest since February 2017, also beat the market expectation of 12 by a wide margin. "The index for new orders increased 15 points to 33.6, its highest reading since May 2018," the publication read. "The survey’s current employment… 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.
