US: ISM-NY Business Conditions Index jumps to 53.5 in July vs. 15.8 expected

• ISM-NY Business Conditions Index rose more than expected in July.
• US Dollar Index clings to daily gains, stays below 94.00.

Business Conditions Index for the New York area jumped from 39.5 in June to 53.5 in July, the Institue for Supply Management (ISM) New York reported on Tuesday. This reading beat the market expectation of 15.8 by a wide margin.

Market reaction

The US Dollar Index, which tracks the greenback's performance against a basket of six major currencies, largely ignored this report and was last seen gaining 0.28% on the day at 93.77. Meanwhile, Wall Street's main indexes are trading little changed.