Forexpros – Manufacturing activity in the Philadelphia-region rose less-than-expected in July, official data showed on Thursday.<br /><br />In a report, the Federal Reserve Bank of Philadelphia said that its manufacturing index improved to 3.2 in July from June&rsquo;s reading of minus 7.7. <br /><br />Analysts had expected the index to increase to 3.4 in July.<br /><br />On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.<br /><br />The survey’s indicators for activity and new orders, which had turned negative last month, recovered somewhat but are at very low positive readings.<br /><br />Firms indicated that employment grew modestly while the average workweek lessened.<br /><br />The broadest indicator of future activity improved markedly this month, rebounding from its lowest reading in 31 months in June.<br /><br />Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD climbing 0.92% to trade at 1.4346.<br /><br />Meanwhile, U.S. equity markets were broadly higher. The Dow Jones Industrial Average rose 1%, the S&amp;P 500 index jumped 1.25%, while the Nasdaq Composite index advanced 0.65%.&nbsp; <br /><br />

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