• Prior 17.8
  • Employment 12.2 vs 11.9 prior
  • New orders 34.2 vs 16.8 prior
  • Capex 18.9 vs 31.0 prior
  • Prices paid 34.7 vs 35.0 prior
  • 6 month expectations 58.1 vs 52.0 prior

Great headline number, great boost in new orders, disappointing drop in investment expectations.

All that was worth around 6 pips to USD/JPY as it rose to 101.58. It is a strong report though and sets up similar July numbers to follow.

Phill Fed

Philly Fed