Skip to main content

EUR/USD unmoved even as New York Fed index misses on expectations

The March reading off the US New York Fed (Empire) index has just been released. The markets were expecting a reading of -7, from a prior of -2.4. The actual reading has come in at-20.9. Ahead of the the dollar versus Europe was off its best levels but had remained near the top end of the range versus the Yen. The reaction to this data has seen the USD/JPY drop back slightly and the EUR/USD has so far bearing moved. That is a little odd given this was weaker across all components and prices were lower. New orders collapsed too. The EUR/USD was trading at 1.0890 ahead of this number. It is still there as I sign off on this update. Confused? Well, I am to a little that way to be honest  

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!