Details from the Philly Fed business optimism index for June
- Prior 6.7
- New orders 15.2 vs 4.0 prior
- Employment 3.8 vs 6.7 prior
- Prices paid +17.2 vs -14.2 prior
- Capex 8.1 vs 16.8 prior
- 6m expectations 39.7 vs 33.9
That's some turnaround in manufacturing from the Philly Fed's region. USD pushes up to 122.85. EURUSD dips but is still stuck in this 1.1380/1.1420 range
The only downside is employment but that will be regarded as a minor blip compared to the other components
They're good numbers alright but the respondents are a touch more grounded and are not exactly seeing boom times now
That might at least raise expectations for next week's manufacturing data
