Forex News – USDJPY jumps after US manufacturing data

Important: This page is part of archived content and may be outdated.

The Empire State manufacturing index showed a rebound to 17.1 in May. This figure was more than the expected 9.5. The index had fallen sharply in April to 6.6%, the lowest level since last November, from 20.2 in March. In May, underlying conditions were mainly positive.

Meanwhile, at the same time, a separate report was released on the April US retail sales data.

US retail sales number rose by 0.1 percent in April which was lower than the sharp gains in the first three months of the year. Expectations were for sales to rise by 0.2 percent.

March numbers were revised down to 0.7 percent  from 0.8 percent and the increase in February was also revised down to 1.0 percent from 1.1 percent.

Sales data are closely watched because consumer spending in the US accounts for as much as 70 percent of the economy and helps with economic growth.

Although the data were mixed, the dollar jumped against yen. USDJPY rose to 80.05 from 79.83.  This is the first time the dollar breaks above 80 yen since Monday.