Philadelphia Fed Business Outlook Survey –Why it is Important for Forex Traders?

Source

Federal Reserve Bank of Philadelphia (latest release)

Measures

Level of a diffusion index based on surveyed manufacturers in Philadelphia;

Usual Effect

‘Actual’ greater than ‘Forecast’ is good for currency;

Frequency

Released monthly, on the third Thursday of the current month;

Next Release

Aug 18, 2022

FF Notes

Above 0.0 indicates improving conditions, below indicates worsening conditions;

Why Traders
Care

It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.

Derived Via

Survey of about 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level of general business conditions;

Also Called

Philadelphia Fed Business Outlook Survey;