US Philly Fed Employment (Feb) -1.3 (Prev. 9.7)

Newsquawk Staff · 19 Feb 2026, 13:50 UTC

What it means

The Philly Fed Employment data for February fell sharply to -1.3 from a previous reading of 9.7, indicating a significant contraction in labor market conditions in the region. This unexpected drop could signal weakness in overall economic momentum and may prompt discussions about future Federal Reserve policy adjustments, especially regarding rate hikes. Traders should monitor how this affects broader market sentiment and any shifts in rate expectations.

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US Market Open, 28 Oct, 10:34 UTC · what it led with

NQ futures outperform following SK Hynix's upbeat earnings.
DXY flat; NZD hit after the RBNZ unexpectedly held rates steady.

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Riksbank maintains its rate at 1.75% as expected; assesses that the probability of a rate increase later this year remains; there is considerable uncertainty and developments call for vigilance
EUR/SEK+0.3%
Norges Bank maintains its rate at 4.25% as expected; may still become necessary to raise the policy rate
EUR/NOK+0.6%
US President Trump expected to remove some tariffs on Canada in a bid to help Senator Susan Collins, WSJ reports.
USD/CAD−0.2%

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