Empire Fed manufacturing index for February 2022 3.1 versus 11.9 estimate

Empire Manufacturing Index for February 2022:

Overview: Overall business activity was little changed. New orders and shipments were steady. Unfilled orders increased. Labor indicators were solid. The inflation data remains high with the prices received reaching a new record high.

Future plans for capital and technology spend remained strong. Nevertheless, the forward looking optimism dipped to the lowest level since mid 2020.

  • Prior month came in at -0.7% vs 25.0 expected (big miss last month)
  • General business conditions 3.1 versus 11.9 estimate
  • New orders 1.4 versus -5.0 last month
  • Shipments 2.9 versus 1.0 last month
  • Employment 23.1 versus 16.1 last month
  • Average employee workweek 10.9 versus 10.3 last month
  • Unfilled orders 14.4 versus 12.1 last month
  • Inventories 11.7 versus 10.3 last month
  • Prices Paid 76.6 versus 76.7 last month
  • Prices received 54.1 versus 37.1 last month

The forward looking Indicators showed that while firms expected conditions to improve over the
next six months, optimism dipped to its
lowest level since mid-2020. The capital expenditures
index remained near a multi-year high,
suggesting that firms plan significant
increases in capital spending.

Forward business index

6-month forward business conditions dips to mid 2020 levels
  • General business conditions 28.2 versus 35.1 last month
  • new orders 32.9 versus 32.9 last month
  • Shipments 32.6 versus 29.3 last month.
  • Employment 25.9 versus 29.9 last month
  • average employee workweek 15.3 versus 13.8 last month
  • prices paid 70.3 versus 76.7 last month
  • prices received 51.4 versus 62.1 last month
  • capital expenditures 37.8 versus 39.7 last month
  • technical spending 29.7 versus 31.9 last month

To access the full report, CLICK HERE


 
 EURUSD 
EUR/USD

The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars.  Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, behind only the US dollar. This currency pair is the most traded and liquid currency pair on the market.As the most popular trading pair, the EUR/USD is a staple of every brokerage offering and often has some of the lowest spreads relative to other pairs. Ultimately, the currency follows the two most economic blocs in the world and sees the most volume for this reason.The EUR/USD has a wide range of factors that influence its rates. From the EUR side, economic data in the Eurozone as well as internal factors in the bloc can easily impact rates. Even small member states can effectively weigh on the EUR, as seen in Greece during bailout talks in the 2010s. Alternatively, developments in the United States and the Federal Reserve commonly affect the EUR/USD. Many examples include the bailouts during the Financial crisis, tax cuts during the Trump Administration, and Covid-19 relief measures, among others.

The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars.  Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, behind only the US dollar. This currency pair is the most traded and liquid currency pair on the market.As the most popular trading pair, the EUR/USD is a staple of every brokerage offering and often has some of the lowest spreads relative to other pairs. Ultimately, the currency follows the two most economic blocs in the world and sees the most volume for this reason.The EUR/USD has a wide range of factors that influence its rates. From the EUR side, economic data in the Eurozone as well as internal factors in the bloc can easily impact rates. Even small member states can effectively weigh on the EUR, as seen in Greece during bailout talks in the 2010s. Alternatively, developments in the United States and the Federal Reserve commonly affect the EUR/USD. Many examples include the bailouts during the Financial crisis, tax cuts during the Trump Administration, and Covid-19 relief measures, among others.
Read this Term

LEAVE A COMMENT

Your email address will not be published.