The Philadelphia Federal Reserve Manufacturing Index rates the relative level of general business conditions in Philadelphia. A level above zero on the index indicates improving conditions; below indicates worsening conditions. The data is compiled from a survey of about 250 manufacturers in the Philadelphia Federal Reserve district. The index may be of some help in predicting the US ISM. A higher than expected reading should be taken as positive/bullish for USD, while a lower than expected reading should be taken as negative/bearish for USD. In June, the index is expected to decline from 16.6 to 11.0.
Read more here: