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Philadelphia Fed index misses forecasts but import and export prices rise- EUR/USD resilient so far
The batch of US economic data has just hit the screens and that has shown some contrasting numbers. The Philadelphia Fed index missed on forecasts, coming in at just 4.5, where it was forecast to be at 8. The jobless claims data was pretty much as expected, at 222k. The continuing claims were pretty much in line too. What was not was the latest import and export prices. Import prices rose well above forecasts and that has helped the dollar to rebound, but the price action around this data has been very choppy. The US yields have risen on this data though and that has helped to stop the dollar from falling it seems. That said the EUR/USD looks pretty resilient, despite a further push above the 155 handle in the USD/JPY. The EUR/USD is just now trading at 1.0863
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