The Philly Fed ends a long run of losing US figures this week. It hit 7.5 points in April, better than 6.5 expected. The Employment component reached 11.5 vs 3. This is also somewhat encouraging towards the next jobs report, but is only a fraction of the overall economy.
The US dollar is hesitant. Update: we are beginning to see some strengthening in the greenback, with EUR/USD sliding towards 1.07 from above 1.0730 prior to the publication, but it isn’t a huge move.
Read the rest of the article Philly Fed beats with 7.5 – finally a spring bounce?