The New Orders Index increased from -12.5 in January to 5.2 in February, its first positive reading since May 2022. Capacity Utilization improved from -14.9 to -1.0, while Production Index increased from -15.4 to 1.0.
Today, traders also had a chance to take a look at New Home Sales report for January. The report indicated that New Home Sales increased by 1.5% on a month-over-month basis, compared to analyst consensus of +0.9%.
U.S. Dollar Index settled near the 103.80 level after the release of the Dallas Fed Manufacturing Index report. Treasury yields are moving higher, but forex traders ignore this move.
Gold pulled back below the $2030 level as traders ignored U.S. dollar’s…
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