Empire State Manufacturing edges down. US Dollar falls in Currency Trading. | CountingPips Forex Blog

December 15, 2008 - Forex Economic News

Empire State Manufacturing Survey edges down. US Dollar falls in Currency Trading.

New York manufacturing activity continued to fall in December as sentiment among New York manufacturers edged lower according to data released today by the New York Federal Reserve. The Empire State Manufacturing Survey, a monthly business survey of New York State manufacturers, showed that the general business index in New York declined by less USD falls in Currency Trading than a point to register a -25.8 score. The December index score was better than expected as economic forecasts that were predicting a score of -28.0 for the month but remained close to the record low score for the survey that was reached in November at -25.43.

The manufacturing new orders index edged higher this month to a -20.8 score while the shipments index increased to a -8.8 score. The prices paid index plummeted this month by 28 points to register a -7.5 score while the prices received index dropped by 18 points to a -11.7 score. The employment indexes for the month remained at contracting levels while the future business index showed a gain for the month as it rose by 6 points to a 19.5 score. The Empire State Manufacturing Survey is a monthly business assessment of New York State manufacturers produced by the New York Federal Reserve.

Forex - US Dollar falls in currency trading against most majors.

The U.S. dollar has been losing ground today in the currency trading markets as the American currency has declined against the euro, pound, yen, kiwi and Canadian loonie in trading. The euro has increased from today's opening rate of 1.3488 to trading at 1.3692 dollars per euro near the end of the US trading session at 4:58pm ET.

The British pound has gained from today's opening exchange rate of approximately 1.5057 dollars per pound to trading at approximately 1.5298. The U.S. dollar has declined today against the Japanese yen as the USD/JPY has dropped from its 90.92 opening exchange rate to trading at 90.62 yen per dollar.

Also gaining ground verses the dollar today is the New Zealand kiwi at 0.5546 from 0.5532 and the Canadian loonie at 1.2341 from 1.2365. The dollar has declined against the Swiss franc from the opening rate of 1.1702 to trading at 1.1588. Against the Australian dollar today, the AUD/USD pair has been virtually unchanged and trading at the exchange rate of 0.6690.

USD/CHF Chart - The Euro gaining vs. the US Dollar today and reaching 1.3700 in currency trading action(4-Hour Chart).

Today's Forex Chart

tags: usd, empire state, manufacturing, currency trading

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