Investing.com - Manufacturing activity in the Philadelphia-region slowed in December after expanding at the fastest rate since December 1993 last month, according to data released on Thursday.
The Federal Reserve Bank of Philadelphia said its manufacturing index came in 24.5 at this month, down from 40.8 in November.
Economists had forecast a decline to 26.6.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
The current new orders index, which reflects the demand for manufactured goods, fell to 15.7 from 35.7, while the employment index dropped to 7.2 from a three-and-a-half year high of 22.4 last month.
EUR/USD was close to two-year lows at 1.2280 from around 1.2271 ahead of the release of the data, while USD/JPY was at 118.20 from 119.11 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was close to five year highs at 89.52 from 89.57 ahead of the report.
Meanwhile, U.S. stocks were higher. The Dow was up 1.42%, the S&P 500 surged 1.44%, while the Nasdaq 100 advanced 1.52%.