January 2018 US Empire State manufacturing report 16 January 2018

  • Prior 18.0. Revised to 19.6
  • Employment 3.8 vs 22.9 prior
  • New orders 11.9 vs 19.0 prior
  • Prices paid 36.2 vs 29.7 prior
  • 6m conditions 48.6 vs 46.3 prior

(All “prior” data above are revised numbers from Dec)

A tad softer start in the first US manufacturing indicator of the New Year. Price inflation jumps so that keeps the inflation picture sound for the Fed. Perhaps the employment numbers could be a signal for a more moderate jobs market in 2018?

No move in the dollar. USDJPY trades at 110.75.

Ryan Littlestone

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