BREAKING: USD muted after NY Fed index

New York Fed Empire manufacturing index for June was released today at 1:30 pm BST. The report is often overlooked by markets and does not trigger any immediate, large market reaction. However, this index as well as other regional activity indices are one of the most timely measures of the US economy performance and are worth watching as they often show economic developments before they are evidence in the 'hard' data.

Index was expected to improve from -15.6 in May to -10.0 in June. However, actual report showed a bigger than expected improvement, to -6.0. Nevertheless, in spite of this beat, no major move in the market could be spotted with USD moving just slightly higher.

Source: xStation5