Technical Analysis

Dallas Fed December manufacturing index -5.1 vs +15.0 expected

Dallas-area manufacturing survey

  • Prior was +17.6

And that’s your final US economic data point of the year. It’s a huge miss. The regional manufacturing numbers in December have been all over the place. Richmond was also a big miss, which the Chicago PMI was much stronger than expected.

For this one, it says less about the economy as a whole than the 45% plunge in oil prices in the past 10 weeks.

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