Dallas Fed Manufacturing Index Exceeds Analyst Expectations

Secret Insights

• Dallas Fed Manufacturing Index reduced from -19.9 in November to -9.3 in December.
• Production Index enhanced from -7.2 to 1.4.
• New Orders Index grew from -20.5 to -10.9.

On December 26, the Federal Reserve Bank of Dallas launched Dallas Fed Manufacturing Index reportThe report suggested that Dallas Fed Manufacturing Index decreased from -19.9 in November to -9.3 in December, compared to expert agreement of -20.5.

According to the report, Texas factory activity supported in December after contracting in November. Production Index increased from -7.2 in November to 1.4 in December. New Orders Index enhanced from -20.5 to -10.9, while Company Outlook increased from -18.8 to -11.0.

Longer-term Treasury yields were primarily flat after the release of the report. It looks that bond traders are not all set for huge relocations after Christmas.

U.S. Dollar Index settled near 101.60. The American currency stays under pressure as traders bank on dovish Fed.

Gold stayed stuck listed below the $2060 level as traders waited on drivers. From a broad view viewpoint, gold bulls remain concentrated on the weak point of the U.S. dollar.

SP500 drew back from session highs as traders responded to the better-than-expected report. At this moment, it looks that SP500 requirements more powerful drivers to climb up above the current highs at 4787.

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