US Empire Fed March manufacturing -24.6 vs -8.0 expected

• Prior was -5.8

Details:

• New orders -21.7 versus -7.8 in February
• Shipments +13.4 versus +0.1 in February
• Prices paid +41.9 versus +45.0 in February
• Prices received +22.9 versus +28.4 in February
• Employment -10.1 versus -6.6 in February
• Average employee workweek -18.5 versus -12.1 in February
• Inventories -1.9 versus +6.4 in February
• Delivery times -7.6 versus -9.2 in February
• Unfilled orders -6.7 versus -9.2 in February
• Six month conditions +2.9 vs +14.7 in February

There isn't much to like in this report and the plunge in new orders is the biggest concern.

/US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term