US: Dallas Fed Manufacturing Index plunges to -17.7 in June vs. -3.1 expected

Dallas Fed Manufacturing Index fell sharply in June.
US Dollar Index continues to fluctuate near 104.00 after the data.

Eren Sengezer FXStreet

The headline General Business Activity Index of the Federal Reserve Bank of Dallas' Texas Manufacturing Survey plunged to -17.7 in June from -7.3 in May. This print missed the market expectation of -3.1 by a wide margin.

The New Orders sub-index dropped to 3.3 from 19.8, the Prices Paid for Raw Materials component fell to 57.5 from 61.8 and the Employment sub-index declined to 15.2 from 20.9.

Market reaction

There was no immediate market reaction to this report and the US Dollar Index was last seen posting small daily losses at 103.98.

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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