US June Philly Fed +1.3 vs +5.0 expected

• Prior was +4.5

• Employment: -2.5 vs -10.7 prior
• New orders: -2.2 vs +12.2 prior
• Prices paid: +22.5 vs +23.0 prior
• Prices received: vs +5.5 prior
• Shipments: vs +19.1 prior
• Unfilled orders: vs +0.8 prior
• Delivery times: vs -9.4 prior
• Inventories: vs -8.9 prior
• Avg employee workweek: vs -18.7 prior

The prior reading was a jump to a two-year high so a retracement here isn’t a big surprise or a sign of a weakening economy. However the prices paid number is starting to heat up.

Look-ahead indexes:

• Six month index: +13.8 vs +34.3 prior
• Employment: +19.0 vs +12.8 prior
• New orders: +16.2 vs +42.8 prior
• Shipments: -0.1 vs +29.3 prior
• Prices paid: +56.3 vs +54.5 prior
• Prices received: +58.8 vs +31.4 prior

This article was written by Adam Button at www.forexlive.com.