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Philly Fed: Index for current manufacturing activity in the region increased 5 points to 23.8

"The index for current manufacturing activity in the region increased 5 points to a reading of 23.8 and has remained positive for 14 consecutive months," the Federal Reserve Bank of Philadelphia announced on Thursday.

Key takeaways:

  • Nearly 39 percent of the firms indicated increases in activity this month; 15 percent reported a decrease in activity.
  • The new orders and shipments indexes also registered an improvement, increasing 9 points and 8 points, respectively.
  • Firms reported, on balance, an increase in manufacturing employment this month.
  • The current employment index fell 4 points but has remained positive for 10 consecutive months.

USD/JPY sticks to modest gains, just below 2-month tops

The USD/JPY pair extended its consolidative price action within 20-25 pips trading range and had a rather muted reaction to the US economic releases.
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Election polls are affecting the NZD - Westpac

Although NZD/USD has enjoyed a 2 cent rally in September, it remains below fair value estimates, suggests Imre Speizer, Research Analyst at Westpac.
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