US: Dallas Fed Manufacturing Index drops to -15.7 in March vs. -10.9 expected
|- Dallas Fed Manufacturing Index for March missed market expectations.
- US Dollar Index drops 0.10% on a quiet day.
The headline General Business Activity Index of the Federal Reserve Bank of Dallas' Texas Manufacturing Survey declined to -15.7 in March from -13.5 in February. This reading came in weaker than the market expectation of -10.9
Further details of the survey revealed that the Production Index rose from -2.8 to 2.5, the Employment Index improved to 10.4 from -1.0, the New Orders declined from -13.2 to -14.3, the Prices received fell from 15.5 to 7.0 and the Price Paid for raw material dropped from 25.1 to 20.3.
Market reaction
The US Dollar Index is falling 0.10% on Monday, as it trades around 103.00, weakened amid a better tone in market’s mood.
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