Today, the first survey of 2012 for the Philly Fed Manufacturing Index regarding January was published: this survey suggests the U.S. manufacturing conditions continued to expand and at a slightly faster pace in January; the January Philly Fed index increased from +6.8 in December to +7.3 in January. Prices of manufacturing goods also rose as the manufacturing costs edged up. Currently, the American stock markets are traded moderately up.
This survey also presented that the general employment conditions improved again during the time of the survey. If this indicator reflects an estimate of the growth rate of the U.S economy, it may suggest that in January the U.S continued to grow at a slightly higher pace than in the December.
In the previous month, the news of the Philly Fed Manufacturing Index didn’t have much of an effect on the financial markets perhaps as the European debt crisis crowded out the influence of the Philly Fed Manufacturing Index news on forex and commodities traders. Currently the American stock markets including the S&P500 and Dow are slightly increasing, while gold price is traded moderately down.
Current gold price, short term futures (February 2012 delivery) is traded at $1,658.3 per t oz. a $1.6 decrease as of 15:48*.
Current silver price, short term futures (February 2012 delivery) is traded at $30.575 per t oz. a $0.032 increase as of 15:48*.
Current Nymex crude oil price, short term futures (February 2012 delivery) is traded up by 0.89%, to $101.49 per barrel as of 15:53*.
Euros to US dollar exchange rate is currently traded up at 1.2894 a 0.2360% increase as of 16:01*.
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