Pair: Euro Futures
Result: No Trade
US PPI (Core)
Prior: 0.2
Expected: 0.2
Actual: 0.4
Empire State Business Conditions Index
Prior: 24.4
Expected: 16.0
Actual: 1.9
Two reports at the same time. PPI was slightly better than expected with headline PPI quite a lot better, but Empire State was lower than expected creating a mixed reaction from the market. I stayed out of this one as the news was mixed.
US PPI (Core)
Derivative of the Producer Price Index (PPI) that excludes the Food and Energy items. Although Food and Energy can be very volatile from month to month, they play an important role in pass-through inflation. Therefore Core PPI usually has less impact than the overall PPI.
Empire State Business Conditions Index
Measures the general business conditions of manufacturers in New York State. The index is derived from a survey that asks respondents to rate the level of general business activity as ‘decrease’, ‘increase’, or ‘no change’. A rising trend has a positive effect on the nation’s currency because good manufacturing conditions are a sign of a strong economy. Although this survey is limited to manufacturers in New York only, traders pay close attention because the New York Federal Reserve releases it weeks before other major reports on manufacturing (e.g., Industrial Production, ISM Manufacturing Index).
November 3, 2007 at 12:59
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