The NY Fed Services Business Activity Index fell to -20.7 in October, missing the -4.1 estimate and down from -8.7 previously.
LiveSquawk10/16, 07:31 PM
Market impact
Which way this story pushes each asset. An inference from the story, not a measured move.
USD
Would push down
IntradayMedium confidence
Weaker regional services data could ease pressure for further Fed tightening, weighing on USD.
What could change this
If broader national data such as retail sales or PPI continue to beat forecasts, the USD effect from this regional miss could be limited.