Empire Manufacturing Survey falls more than expected. Dollar mixed in Forex Trading, falls vs. Yen. | CountingPips Forex Blog

September 15, 2008 - Forex Economic News

Empire Manufacturing Survey falls more than expected. Dollar mixed in Forex Trading, falls vs. Yen.

New York manufacturing activity fell in September as sentiment among New York manufacturers declined by more than expected 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 10.2 points from August to September to register a -7.4 score. The -7.4 index score was below economic forecasts that were predicting a score of approximately 1.3 for the month and below August's survey score which registered a score of 2.8. The new orders index rose US Dollar mixed in Forex, Yen advances vs. majors. this month by 6.6 points to a 4.4 score and the shipments index rose by 1.5 points in September to 0.6 while the unfilled orders index also increased by 5.5 points to -3.5. The prices paid index declined by 20 points for the month to register a 44.8 score while the prices received index declined by over 8 points to a 24.1 score. The employment indexes for the month showed falling scores as the average workweek index dipped by 7 points and the number of employees index remained negative at a -4.6 score. The Empire State Manufacturing Survey is a monthly business assessment of New York State manufacturers produced by the New York Federal Reserve.

US dollar mixed in Forex Trading, declines verses the yen.

The U.S. dollar has been mixed in forex trading on a wild Monday for the world's financial markets as news of the bankruptcy of Lehman Brothers and the sale of Merrill Lynch to Bank of America has dominated the news wires. The dollar has fallen verses the Japanese yen from this week's opening rate of trading at approximately 107.94 yen per dollar to trading at 105.65 yen per dollar in the afternoon of the U.S. trading session. The Japanese yen has been the biggest beneficiary of the newest turmoil to hit the financial markets as the yen has gained against all the major currencies in today's trading. The euro, meanwhile, has fallen verses the dollar to trading at 1.4186 dollars per euro today after opening the trading week at the exchange rate of 1.4227. The British pound has also dipped verses the dollar, trading at 1.7893 this afternoon and approximately 48 pips below the week's opening exchange rate while the Swiss franc has gained verses the dollar at the exchange rate of 1.1190. The Canadian dollar has lost ground to its American currency counterpart as the USD/CAD pair has advanced to the exchange rate of 1.0691 after the week's opening rate of approximately 1.0601. Against the Australian dollar and the New Zealand dollar, the US dollar has gained ground and trading at 0.8058 and 0.6566, respectively.

USD/JPY Chart - The Japanese yen gains vs. the US dollar today in forex trading as the yen was the main beneficiary in forex trading amid the newest Wall Street turmoil(Daily Chart).

Today's Forex Chart

tags: yen, empire state manufacturing, ny business, forex trading

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