US: Chicago Fed National Activity Index drops to 0 in August vs. 0.08 expected
|- Chicago Fed National Activity Index declined to 0 in August.
- US Dollar Index trades in positive territory near 113.50.
The Federal Reserve Bank of Chicago's National Activity Index (CFNAI) declined to 0 in August from 0.29 in July. This reading came in weaker than the market expectation of 0.08.
According to the Chicago Fed, a zero value for the CFNAI is associated with the national economy expanding at its historical trend (average) rate of growth.
Market reaction
This data doesn't seem to be having a significant impact on the dollar's performance against its major rivals. As of writing, the US Dollar Index was up 0.45% on the day at 113.55.
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