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According to BlockBeats, the New York Federal Reserve's manufacturing index for March was reported at -20, significantly below the expected -0.75 and the previous value of 5.7. The NY Empire State Index, released by the New York Fed, is a crucial economic indicator alongside others such as the consumer price index, producer price index, and industrial production index, serving as a barometer for macroeconomic conditions. A higher actual value compared to the expected value typically benefits the U.S. dollar.