US: Philly Fed Nonmanufacturing Index improves to 36.9 in May from 36.3

Philly Fed Nonmanufacturing Index improved modestly in May.
US Dollar Index stays in the negative territory below 90.00.

Eren Sengezer FXStreet

The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia's Nonmanufacturing Business Outlook Survey improved to 36.9 in May from 36.3 in April.

Further details of the publication revealed that the Firm-level Business Activity Index rose to 22.1 from 21.5 and the Full-time Employment Index jumped to 24 from 7.

Market reaction

This report doesn't seem to be having a significant impact on the USD's performance against its rivals. As of writing, the US Dollar Index was down 0.17% on the day at 89.68.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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