US: Dallas Fed Manufacturing Index drops to -19.4 in October vs. -15 expected

• Dallas Fed Manufacturing Index for October missed market expectations.
• US Dollar Index clings to strong daily gains near 111.50.

The headline General Business Activity Index of the Federal Reserve Bank of Dallas’ Texas Manufacturing Survey declined to -19.4 in October from -17.2 in September. This reading came in weaker than the market expectation of -15.

Further details of the survey revealed that the Manufacturing Output Index fell to 6 from 9.3, the Employment Index improved to 17.1 from 15 and the Company Outlook Index edged higher to -9.1 from -10.7.

Market reaction

The greenback preserves its strength following this report and the US Dollar Index was last seen rising 0.75% on the day at 111.50.