US: Chicago Fed National Activity Index slumps to 0.79 in August vs. 1.95 expected
|- Chicago Fed's National Activity Index dropped more than expected in August.
- US Dollar Index continues to climbg higher toward 93.50.
The Federal Reserve Bank of Chicago's National Activity Index (CFNAI) dropped from 2.54 (revised from 1.18) in July to 0.79 in August. This reading came in worse than the market expectation of 1.95.
Key takeaways
"The CFNAI Diffusion Index, which is also a three-month moving average, decreased to +0.62 in August from +0.73 in July."
"Forty-five of the 85 individual indicators made positive contributions to the CFNAI in August, while 40 made negative contributions.
"Twenty-nine indicators improved from July to August, while 56 indicators deteriorated. Of the indicators that improved, 11 made negative contributions."
Market reaction
The US Dollar Index continues to push higher after this data and was last seen gaining 0.41% on the day at 93.38.
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.