Influence of Philadelphia Fed index in Forex market
It is the consequence of the survey of manufacturers in Philadelphia about the current economic condition in the country. A value below zero shows a reduction in the pace of growth. Progress of the index often leads to the progress of the USD quotation.
“This indicator itself is not a strong factor in the Forex market, but because it is published before the National Association of Purchasing Managers Index (NAPM), it may influence at the value of this national index’’.
This index is published on the third Thursday of every month at 10:00 EST (New York).