US: Philly Fed Nonmanufacturing Index drops to 9.6 in September from 39.1 in August

• Philly Fed Nonmanufacturing Index fell sharply in September.
• US Dollar Index extends sideways grind slightly above 93.00.

The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia's Nonmanufacturing Business Outlook Survey fell sharply to 9.6 in September from 39.1 in August.

Further details of the publication revealed that the Firm-level Business Activity Index declined to 21.9 in September from 37.2 and the Full-time Employment Index edged higher to 14.1 from 8.2.

Market reaction

This report was largely ignored by market participants. As of writing, the US Dollar Index was down 0.12% on the day at 93.10.