US: Dallas Fed Manufacturing Business Index improves to 37.3 in April vs. 23.4 expected

Dallas Fed Manufacturing Business Index rose sharply in April.
US Dollar Index clings to small daily gains, stays below 91.00.

Eren Sengezer FXStreet

The economic activity in Texas' manufacturing sector expanded at a robust pace in April with the General Business Activity Index of the Dallas Fed's Manufacturing Outlook Survey rising to 37.3 from 28.9 in March. This reading beat the market expectation of 23.4 by a wide margin.

On a negative note, the Manufacturing Output Index fell to 34 from 48 in March.

Market reaction

This report doesn't seem to be having a significant impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was up 0.05% on a daily basis at 90.87.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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