Investing.com – The New York Federal Reserve’s index of manufacturing conditions rose less-than-expected in January, official data showed on Tuesday.
In a report, the Federal Reserve Bank of New York said that its general business conditions index rose to 11.9 in January, after rising to 9.9 in December, whose figure was revised down from 10.6.
Analysts had expected the index to rise to 12.0 in January.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
According to the data, future indexes conveyed a high level of optimism, with the future general business conditions index advancing to a level not seen since early 2010, while future price indexes climbed to multiyear highs.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD gaining 0.68% to hit 1.3383.
Meanwhile, U.S. futures indexes pointed to a higher: the Dow Jones Industrial Average futures indicated a rise of 0.24%, S&P 500 futures pointed to a gain of 0.23%, while the Nasdaq 100 futures were up 0.47%.
In a report, the Federal Reserve Bank of New York said that its general business conditions index rose to 11.9 in January, after rising to 9.9 in December, whose figure was revised down from 10.6.
Analysts had expected the index to rise to 12.0 in January.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
According to the data, future indexes conveyed a high level of optimism, with the future general business conditions index advancing to a level not seen since early 2010, while future price indexes climbed to multiyear highs.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD gaining 0.68% to hit 1.3383.
Meanwhile, U.S. futures indexes pointed to a higher: the Dow Jones Industrial Average futures indicated a rise of 0.24%, S&P 500 futures pointed to a gain of 0.23%, while the Nasdaq 100 futures were up 0.47%.