US: Dallas Fed Manufacturing Index drops to new all-time low of -73.7

• Dallas Fed Manufacturing Index slumps to fresh all-time lows in April.
• US Dollar Index recovers above 100, stays in negative territory.

The economic activity in Texas' manufacturing sector contracted further in April with the General Business Activity Index of the Federal Reserve Bank of Dallas' Manufacturing Outlook Survey dropping to a record low of -73.7 from -70 in March.

Further details of the publication revealed that the New Orders Index declined by 26 points to -67 and the Capital Expenditures Index fell by 20 points to -54.3.

"Expectations regarding future business conditions remained negative in April. The indexes of future general business activity and future company outlook came in at -42.1 and -41.5, respectively, holding within a few points of their March readings," the Dallas Fed noted in its press release.

Market reaction

The US Dollar Index inched slightly higher after this data and was last seen at 100.08, where it was down 0.2% on a daily basis.