The headline General Business Conditions Index of the Federal Reserve Bank of New York's Empire State Manufacturing survey deteriorated further and plunged to -32.9 for January. The reading was well below consensus estimates pointing to a slight improvement to -4.5 from -11.2 in December
The US Dollar (USD), meanwhile, reacts little to the dismal macro data and flat-lines below the 102.00 mark, awaiting fresh catalyst before the next leg of a directional move.