- Dallas Fed Manufacturing Index recovered from record lows in May.
- US Dollar Index stays within a touching distance of 99.00.
The economic activity in Texas' manufacturing sector continued to decline in May with the General Business Activity Index of the Federal Reserve Bank of Dallas' Manufacturing Outlook Survey coming in at -49.2.
However, this reading followed April's all-time low of -74 to suggest that the contraction occurred at a softer pace.
Further details of the report revealed that the New Orders Index rose by 38 points to -30.6 and the Employment Index recovered from -22 to -11.5.
"Expectations regarding future business conditions were mixed in May," Dallas Fed said. "The index of future general business activity remained negative but rose 24 points to -19.0. Most indexes for future manufacturing activity returned to positive territory, rebounding notably in May."
The US Dollar Index edged slightly lower after this data and was last seen losing 0.77% on the day at 99.04.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.