US: Philadelphia Fed Manufacturing Index improves to 6.2 in August vs. -5 expected

• US Philly Fed Manufacturing Index recovered into positive territory in August.
• US Dollar Index continues to fluctuate in its tight daily range.

The Federal Reserve Bank of Philadelphia's Manufacturing Business Outlook Survey's diffusion index for current general activity rose to 6.2 in August from -12.3 in July. This print came in much better than the market expectation of -5.

Further details of the publication revealed that the Prices Paid Index declined to 43.6 from 52.2, the Employment Index improved to 24.1 from 19.4 and the Six-month Business Conditions Index advanced to -10.6 from -18.6.

Market reaction

The US Dollar Index is struggling to make a decisive move in either direction and was last seen posting small losses at 106.65.