Time: 12:30 pm GMT, Morocco time: 2:30 hours, Egypt time: 3:30 hours, Saudi time: 3:30 hours, Emirates time: 5:30 hours
Previous: 15.5 Expected: 7.7 Actual: 4.5
What is meant by the US Philly Fed Manufacturing Index?
The Federal Reserve Bank of Philadelphia’s Manufacturing Business Outlook Survey is an economic indicator that reflects the activity of the manufacturing sector in the area surrounding Philadelphia in the United States of America.
The Philadelphia Fed Industrial Index is used as an indicator of the health of the manufacturing sector in the United States, and is one of the main economic indicators that traders in the forex market and stocks in the United States follow. Any change in the value of the index is usually interpreted as indicating changes in the activity of the manufacturing sector in the United States, and affects the decisions of investors and speculators in the currency and stock market.
If the actual release of the US Philadelphia Fed Manufacturing Index is lower than expected, it means that the manufacturing sector in the area surrounding Philadelphia is improving at a slower pace than expected. This result is negative for the US economy, as it indicates a slowdown in the activity of the manufacturing and production sector, and could lead to a decline in profits and jobs in the sector.
All in all, if the actual result of the US Philly Fed Manufacturing Index is lower than expected, this could lead to lower demand for the US dollar, as it could lower investor confidence in the US economy and increase the odds of an interest rate cut by the US central bank. This could reduce the attractiveness of the US dollar as an investment currency.
How does the release of the US Philadelphia Fed Industrial Index affect the trading of the US dollar in the forex market?
The release of the US Philly Fed Manufacturing Index affects the trading of the US dollar in the forex market due to the impact of US interest policy and demand for the US dollar.
When the US Philly Fed Manufacturing Index comes out lower than expected, this could lead to lower demand for the US dollar, making it less attractive as an investment currency. Thus, the price of the US dollar can decrease against other currencies in the forex market.
The body responsible for issuing the US Philadelphia Fed Industrial Index
The US Federal Reserve Philadelphia Industrial Index is issued by the Federal Reserve Bank of Philadelphia, one of 12 banks in the US Federal Reserve System. This index is released in the third week of every month, and measures the activity of the manufacturing sector in the area around Philadelphia in the United States of America.
A monthly survey of corporate executives in the manufacturing sector in the area around Philadelphia is conducted to assess economic activity in this sector. The data generated from the survey is analyzed and a report is issued containing the actual results of the index, which is classified as an important economic indicator that reflects the health and activity of the US economy.
The US Federal Reserve’s Philadelphia Industrial Index is used as an indicator of the health of the US manufacturing and production sector, which in turn affects the US economy in general. Investors and traders in the forex market regularly follow the issuance of this indicator and its interpretation to determine market trends and make appropriate financial decisions.
The release date of the US Philly Fed Manufacturing Index
It is released monthly on the third Thursday of the current month
Next release
Jun 20, 2024
