US: Chicago Fed National Activity Index declines to 0.01 in May from 0.4

Chicago Fed's National Activity Index edged lower in May.
US Dollar Index trades with modest losses below 104.50.

Eren Sengezer FXStreet

The Federal Reserve Bank of Chicago's National Activity Index fell to 0.01 in May from 0.4 (revised from 0.47) in April. This data shows that the US economy expanded at its historical average in May.

"The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.27 in May from +0.39 in April.," the Chicago Fed further noted in its publication. "Forty-seven of the 85 individual indicators made positive contributions to the CFNAI in May, while 38 made negative contributions."

Market reaction

This report doesn't seem to be having a noticeable impact on the dollar's performance against its rivals. As of writing, the US Dollar Index was down 0.15% on the day at 104.25.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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