Dallas Fed Manufacturing Index Drops To -14.5 In April, Missing Analyst Expectations

Vladimir Zernov
Published: Apr 29, 2024, 14:55 GMT+00:00

Key Points:

  • Production Index improved from -4.1 to 4.8.
  • New Orders Index increased from -11.8 to -5.3.
  • Capacity Utilization Index grew from -5.7 to 4.2.
Dallas Fed Manufacturing Index

In this article:

On April 29, 2024, the Federal Reserve Bank of Dallas released Dallas Fed Manufacturing Index report. The report indicated that Dallas Fed Manufacturing Index declined from -14.4 in March to -14.5 in April, compared to analyst consensus of -11.

Production Index increased from -4.1 in March to 4.8 in April. New Orders Index improved from -11.8 to -5.3, while Capacity Utilization Index increased from -5.7 to 4.2.

Company Outlook indicator has also improved from -16.2 in March to -6.3 in April but remained in the negative territory.

U.S. Dollar Index settled near the 105.80 level as traders reacted to the Dallas Fed Manufacturing Index report. It remains to be seen whether U.S. Dollar Index will be sensitive to the report as traders have already started to prepare for the Fed Interest Rate Decision, which will be released on Wednesday.

Gold is trading near the $2335 level after the release of the report. Gold traders are also focused on the upcoming Fed decision. Treasury yields are moving lower, providing some support to gold markets.

SP500 has recently made an attempt to settle above the 5120 level. Stock traders stay bullish amid rising demand for tech stocks. At this point, traders are not worried about hawkish Fed or economic reports as they bet that AI revolution would boost companies’ profits.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.

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