Philadelphia Federal Reserve's manufacturing survey results released at 10 am ET showed that the manufacturing index based on the survey dropped to 5.8 in January compared to 8.1 in December. Economists had expected the headline index to come in at 6 in the month.
The US dollar edged lower against its major opponents after the report. As of 10:03 am ET, the greenback was trading at 89.31 against the yen, 1.3354 against the euro, 0.9338 against the Swiss franc and 1.5974 against the pound
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.