Investing.com - Manufacturing activity in the Philadelphia-region fell less than expected in April, dampening optimism over the health of the economy, official data showed on Thursday.
In a report, the Federal Reserve Bank of Philadelphia said that its manufacturing index fell to 22.0 this month from March’s reading of 32.8. Analysts had expected the index to decline to 25.0.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
With regard to future activity in the sector, new orders fell to 27.4, compared to the March's reading of 38.6 that had been the highest in nearly 30 years.
The employment index increased to 19.9 in April, compared to a prior reading of 17.5, indicating a faster pace of hiring.
Immediately following the report, that was released simultaneously with the weekly jobless claims, EUR/USD traded at 1.0750, compared to 1.0746 prior to the publication, GBP/USD was at 1.2805 from 1.2804 ahead of the release of the data, while USD/JPY traded at 109.04 versus 109.03 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 99.49, compared to 99.51 before the release.
Meanwhile, U.S. stock futures pointed to a slightly higher open. The Dow futures rose 44 points, or 0.22%, the S&P 500 futures gained 7 points, or 0.31%, while the Nasdaq 100 futures traded up 22 points, or 0.41%.
Elsewhere, in the commodities market, gold futures were unchanged at $1,282.00, while crude oil traded at $51.01 a barrel from $51.03 earlier.