US: Philly Fed Nonmanufacturing Index declines to 53.1 in July from 59.6 in June

• Philly Fed Nonmanufacturing Index edged slightly lower in June.
• US Dollar Index renews multi-month highs above 93.00.

The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia's Nonmanufacturing Business Outlook Survey edged lower to 53.1 in July from 59.6 in June.

Further details of the publication revealed that the Firm-level Business Activity Index fell to 44.8 in July from 56.7 in June and the Full-time Employment Index improved to 24.8 from 4.3.

Market reaction

The US Dollar Index preserves its bullish momentum after this report and was last seen trading at its highest level since early April at 93.09, rising 0.27% on a daily basis.