US: Philadelphia Fed Manufacturing Index jumps to 30.7 in September vs. 18.8 expected

• Philly Fed Manufacturing Index improved decisively in September.
• US Dollar Index continues to push higher toward 93.00.

The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey improved to 30.7 in September from 19.4 in August. This reading came in stronger than the market expectation of 18.8.

Further details of the publication revealed that the New Orders Index declined to 15.9 from 22.8, the Employment Index edged lower to 26.3 from 32.6 and the Prices Paid Index fell to 67.3 from 71.2. Finally, the Six-month Business Conditions Index dropped to 20 from 33.7.

Market reaction

The USD continues to outperform its rivals in the early American session. As of writing, the US Dollar Index was at its highest level since August 27 at 92.89, rising 0.45% on a daily basis.