US: Chicago Fed National Activity Index improves to 1.71 in March vs. -0.66 expected

• Chicago Fed National Activity Index rose more than expected in March.
• US Dollar Index holds above 91.00 after the data.

The Federal Reserve Bank of Chicago's National Activity Index rose to 1.71 in March from -1.2 in February. This reading came in better than the market expectation of -0.66.

"The CFNAI Diffusion Index, which is also a three-month moving average, moved up to +0.40 in March from +0.22 in February," the publication further read. "Seventy of the 85 individual indicators made positive contributions to the CFNAI in March, while 15 made negative contributions."

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen posting small daily losses at 91.05.