- Manufacturing activity in NY area expands in February.
- US Dollar Index extends rally on upbeat data.
The General Business Conditions Index of the Federal Reserve Bank of New York's Empire State Manufacturing Survey improved to 12.9 in February from 4.8 in January and beat the market expectation of 5.
"The new orders index shot up 16 points to 22.1, and the shipments index climbed to 18.9," the publication read. "Optimism about the six-month outlook continued to be somewhat subdued, and capital spending plans remained firm."
The upbeat reading helped the greenback preserve its strength against its rivals. As of writing, the US Dollar Index was at its highest level since early October at 99.34, adding 0.2% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.