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  • Philly Fed Nonmanufacturing Index improved modestly in April.
  • US Dollar Index posts small daily gains around 91.20.

The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved to 36.3 in April from 27.4 in March.

Further details of the publication revealed that the  Firm-level Business Activity Index declined to 21.5 from 26.6 and the Full-time Employment Index edged lower to 7  from 8.

Market reaction

The US Dollar Index extended its rebound following this report and was last seen gaining 0.14% on a daily basis at 91.20.