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.

Eren Sengezer FXStreet

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.

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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