US: Chicago Fed National Activity Index retreats to 0.27 in September vs. 0.39 expected

Chicago Fed's National Activity Index fell more than expected in September.
US Dollar Index stays in the positive territory near 93.00.

Eren Sengezer FXStreet

The Federal Reserve Bank of Chicago's National Activity Index (CFNAI) dropped from 1.11 (revised from 0.79) in August to 0.27 in September. This reading came in worse than the market expectation of 0.39.

Key takeaways

"The CFNAI Diffusion Index, which is also a three-month moving average, decreased to +0.51 in September from +0.71 in August.

"Fifty of the 85 individual indicators made positive contributions to the CFNAI in September, while 35 made negative contributions."

"Forty indicators improved from August to September, while 45 indicators deteriorated. Of the indicators that improved, 12 made negative contributions."

Market reaction

The US Dollar Index largely ignored this report and was last seen gaining 0.28% on the day at 93.00.

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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