- The US Dallas Fed Manufacturing Companies Index declines to 4.6 in September from 9.
- The US dollar rose modestly on the day, moving away from highs.
The Federal Reserve Bank of Dallas published the Texas Manufacturing Outlook Survey. The general index of business activity remained in positive territory in September at 4.6 below the reading of 9 the previous month.
“Texas factory activity continued to increase in September, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose three points to 24.2. The reading was well above average and indicates strong production growth, ”according to the report.
Perceptions of broader trading conditions were mixed in September. While both the company’s outlook and overall business activity indices were down from their August readings, the company’s outlook index fell into negative territory at -2.8, indicating a slight worsening of the outlook this month. ” .
Expectations for future manufacturing activity were slightly less positive in September, the report showed. “The future production index fell to 41.8 but remained high, while the future general business activity index fell four points to 11.5, a reading slightly below average.”
Market reaction
Market participants mostly ignored the report. The US dollar remains far from the highs, with the DXY hovering around 93.30 / 35, up 0.07% on the day. US yields are moving away from highs, bullish for the day. The 10-year yield stands at 1.48%, up more than 2% on the day.
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