US: Manufacturing activity in Tenth District expanded modestly in July

• Kansas Fed's monthly report shows slight growth in manufacturing actvitiy.
• US Dollar Index stays deep in the negative territory below 95.

The Composite Index of the Federal Reserve Bank of Kansas City's Tenth District Manufacturing Survey rose from 1 to three in July, showing modest growth in the manufacturing activity. Meanwhile, the Production Index improved from 2 to 7 in the same period. 

"Tenth District manufacturing activity continued to grow slightly after decreasing sharply in the spring, but still remained well below year-ago levels," the publication read. Expectations for future activity continued to improve slightly. District firms continued to expect prices for both finished goods and raw materials to expand in the next six months."

Market reaction

The market reaction to this report was largely muted. As of writing, the US Dollar Index was down 0.32% on a daily basis at 94.65.