Skip to main content

New York Fed (Empire) index surprises to the downside- USD/JPY slips

The latest US Empire Fed index (New York region) has just been released and it was a sizeable miss on the downside. The markets had expected a reading of -5. The actual reading was -43.7 and that is a real surprise and worst such reading since 2020. The dollar has reacted immediately to the news and pared gains seen earlier. The USD/JPY was trading above 146.75 when this news hit the wires. The dollar has now fallen back underneath 146.50 as the markets seem a little stunned by this surprisingly weak data. This news has pushed US yields lower and consequently that has lifted US stock futures once more. The USD/JPY is currently trading at 146.45

Ready to Get Started?

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