Fiper | Philly Fed Manufacturing Index

This indicator determines the general working conditions of industrialists in Philadelphia. This indicator is extracted from a survey in which a number of people are asked about the percentage of the level of business activity in general, so that they answer that it is “increasing”, “decreasing” or “no change”. Although this survey is limited to Philadelphia industrialists only, traders are watching it closely because the Philadelphia Federal Reserve releases this indicator weeks before other key economic reports on the manufacturing sector.
The US Philadelphia Fed Manufacturing Index fell to -9.9 in September 2022 from 6.2 in August, missing market expectations of 2.8. The current activity indicator returned to negative territory, the new orders indicator remained negative, and the shipments indicator also declined but remained positive. Firms report continued increases in hiring. Price indicators continue to indicate price increases in general. The outlook for growth over the next six months was weak, as the index of future general activity improved but remained negative

Expectations for today's statement and how it affects the currency

Forecast for today's data is -5%
If the data is above zero, then it is better. But if it came below zero, this indicates bad conditions, as well as if it recorded a rate higher than expected, it will positively affect the currency and vice versa.