US: Chicago Fed National Activity Index drops to -1.09 in February vs. 0.21 expected

• Chicago Fed National Activity Index fell into the negative territory in February.
• US Dollar Index continues to move sideways below 92.00.

The Federal Reserve Bank of Chicago's National Activity Index dropped to -1.09 in February from 0.75 (revised from 0.66) in January. This reading missed the market expectation of 0.21%.

"The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.17 in February from +0.34 in January," the publication read. "Thirty-four of the 85 individual indicators made positive contributions to the CFNAI in February, while 51 made negative contributions."

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.12% on a daily basis at 91.80.