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Philly Fed Manufacturing Index rose more than expected

Thursday, Jan 21 2016
Philly Fed diffusion index for current activity increased from a revised reading of -10.2 in December to -3.5 and has now been negative for five consecutive months. Smaller increase to -5.8 was anticipated. The index for current new orders remained negative but increased 10 points, to -1.4. 
 Firms reported an increase in shipments to begin the new year: The shipments index increased 12 points, its first positive reading in four months. Firms reported continued declines in inventories: The inventories index remained negative and decreased 10 points. Firms’ backlog of unfilled orders also declined this month, and delivery times were shorter, according to the responding firms.
 
Euro is currently being traded few points above 1.08 level, Sterling is around 1.41 handle, while Aussie is around 0.6920 area. Later today, Crude Oil Inventories figures are scheduled for a release.
More in this category: « Unemployment Claims increased to 293,000 Draghi warns more stimulus may be needed »

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