US: Chicago PMI declines to 51.2 in August vs. 52 expected
|- Chicago PMI fell short of market expectation in August.
- US Dollar Index stays deep in the red near 92.50.
The Chicago Purchasing Managers Index released by ISM-Chicago edged lower to 51.2 in August from 51.9 in July. This reading missed the market expectation of 52 and showed an expansion in the private sector's economic activity at a softer pace.
Market reaction
The US Dollar Index showed no significant reaction to this data and was last seen losing 0.55% on a daily basis at 92.48. Meanwhile, the S&P 500 Index was up 0.25% on the day at 3,493, suggesting that the market mood remains upbeat on Friday.
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