April 2016 US Empire State manufacturing 9.56 vs 2.21 exp

• Prior 0.62
• New orders 11.14 vs 9.57 prior
• Employment 1.92 vs -1.98 prior
• Prices paid 19.23 vs 2.97 prior
• 6m expectations 29.4 vs 25.52

The dollar is marginally higher after the data. While this is only a small report in the bigger picture, it is the first of the month and is usually a pretty good indication of how the month will pan out. It certainly suggests that we should circle the ISM report as one to watch later this month.