Fiper | Philly Fed Manufacturing Index 15/9/2022

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 rose to 6.2 in August 2022 from -12.3 in July, and returned to positive territory after two consecutive negative readings and above market expectations of -5. Although the general activity index turned positive, it was declining, and the new orders index remained negative. The employment index rose, while the price indices continued to decline but remained elevated. The survey's future indicators rose slightly but continued to indicate that companies expect general declines six months from now

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

Forecast for today's data is 2.4%

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.