According to the recent release of the Philly Fed Manufacturing Index the index still showed weakness in manufacturing conditions, but slightly improved compared with the previous month’s report; the September index inclined from -30.7 in August to -17.5 in September. Currently, the US stock markets are traded up.
This index was negative in the past three of the four months. If this indicator reflects an estimate of the US GDP growth rate, it may suggest that the US GDP in the third quarter will be very low.
In the previous month, the news of the Philly Fed Manufacturing Index may have contributed to the sharp falls in the US stock markets along with the hike in gold and silver prices. Currently the financial markets don’t seem to react to this news as the US stock markets are traded up, while silver and gold prices are traded down.
Current gold price, short term futures (October 2011 delivery) is traded at $1,793.7 per t oz. a $32.8 decrease or 1.80%, as of 14:48*.
Current silver price, short term futures (October 2011 delivery) is traded at $40.26 per t oz. a $0.273 decrease or 0.67%, as of 14:49*.
Current Nymex crude oil price, short term futures (October 2011 delivery) is traded up by 0.89% to $89.70 per barrel as of 14:56*.
Euros to US Dollar exchange rate is currently traded up by 0.9760% to 1.3889 as of 15:01*.
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