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.

Eren Sengezer FXStreet

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.

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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