US: Chicago Fed National Activity Index drops to -0.19 in February vs. 0 expected
|- Chicago Fed National Activity Index declined more than expected in February.
- The US Dollar Index recovers toward 102.50 after the data.
The Federal Reserve Bank of Chicago's National Activity Index (CFNAI) declined to -0.19 in February from 0.23 in January. This reading came in weaker than the market expectation of 0.
"The CFNAI Diffusion Index, which is also a three-month moving average, moved up to +0.02 in February from –0.07 in January," the Chicago Fed noted in its publication. "Thirty-eight of the 85 individual indicators made positive contributions to the CFNAI in February, while 47 made negative contributions."
Market reaction
The US Dollar Index stages a modest rebound in the early American session and was last seen losing 0.12% on the day at 102.40.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.