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.
Author
Matías Salord
FXStreet
Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.
