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US: Dallas Fed Manufacturing Index rises slightly to 1.2 vs. 11.8 expected

The economic activity in Texas' manufacturing sector expanded modestly in February with the Federal Reserve Bank of Dallas' Texas Manufacturing Outlook Survey's headline General Business Activity Index edging up to 1.2 from -0.2. This reading, however, came in worse than the market expectation of 11.8.

"The new orders index fell nine points to 8.4, down from a 15-month high in January but still slightly above average," the publication read. "Expectations regarding future business conditions were slightly more optimistic in February. The indexes of future general business activity and future company outlook moved up to 18.0 and 24.1, respectively."

USD reaction

The US Dollar Index extended its slide after the disappointing data and was last seen at 99.22, down 0.12% on the day.

United States Dallas Fed Manufacturing Business Index came in at 1.2 below forecasts (11.8) in February

United States Dallas Fed Manufacturing Business Index came in at 1.2 below forecasts (11.8) in February
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US Dollar Index Price Analysis: DXY off 2020 highs, under pressure near 99.20 level

The US dollar index (DXY) is pulling back down below the 2019 high at 99.67 level. DXY is on the back foot after a long bullish run.
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