Not that they’ve manufactured anything in New York State for 20 years or more, but the Empire State manufacturing index tumbled to -34.65 in February from 22.2 in January. The consensus was for -24.0
EUR/USD revisited the lows just above 1.2600 after the data where a barrier is rumored being defended. Don’t be surprised to hear of buying by European central banks as well. The ECB is keen to keep euro weakness from becoming front-page news amid concerns over potential defaults by the weakest credits within the eurozone.
