Today, the third survey of 2012 for the Philly Fed Manufacturing Index regarding March was published: this survey suggests the U.S. manufacturing conditions continue to grow at a slightly faster pace in March than in February; the Philly Fed index edged up from +10.2 in February to +12.5 in March. Indexes of prices decreased during the month even though there are still price pressures. Currently, the American stock markets are traded slightly up.
This survey also suggests the general employment conditions slightly improved again during the time of the survey. If this indicator reflects an estimate of the economic progress of the U.S, it may suggest that in March the U.S continued to grow at a slightly higher pace than in the February 2012.
In the previous month, the news of the Philly Fed Manufacturing Index didn’t affect many traders of stocks, forex and commodities because, much like this month, there wasn’t a sharp shift in the index. Thus, the news of this index may moderately affect the direction of the financial markets.
Currently the major American stock market indexes including the S&P500 and Dow are moderately rising; major commodities prices are also increasing including gold and oil prices.
Current gold price, short term futures (April 2012 delivery) is traded at $1,648.5 per t oz. a $5.6 increase as of 15:56*.
Current Nymex crude oil price, short term futures (April 2012 delivery) is traded up by 0.33%, to $105.78 per barrel as of 15:56*.
Euros to US dollar exchange rate is currently traded up at 1.3070 a 0.28% increase as of 15:57*.
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