US Empire Manufacturing for July 15.6 vs 5.70 last month. The estimate was 8.80.

The New York Fed’s Empire State Manufacturing Index rose sharply in July to 15.6 from 5.7 in June, beating expectations of 8.8 and signaling a stronger-than-expected rebound in regional factory activity. The details were mixed but broadly constructive: new orders, shipments, employment, and the six-month outlook all improved versus prior readings, while supply availability remained negative. The report is mildly supportive for US growth expectations and could lend modest upside to the dollar and Treasury yields if traders view it as evidence of firmer industrial momentum. However, elevated prices paid and prices received suggest inflation pressures are still present in the manufacturing sector.