US: Dallas Fed Manufacturing Index drops to -3.2 in December vs. 1.5 expected

• Dallas Fed Manufacturing Index comes in worse than expected in December.
• US Dollar Index struggles to pull away from daily lows.

The economic activity in Texas continued to contract in December, the Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey showed on Monday. The headline General Business Activity Index in December dropped to -3.2 from -1.3 in November and fell short of the market expectation of 1.5.

The greenback seems to be having a difficult time recovering its losses against its major rivals after the data with the US Dollar Index staying near 96.70, losing 0.3% on a daily basis.