Dallas Fed Manufacturing Index fell below expectations

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.

The latest data 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.

As for the market’s reaction; there was no immediate market reaction to this data as the US Dollar Index was last seen posting small daily losses at 103.98.