Chicago PMI rises unexpectedly in February

Forex Pros – Manufacturing activity in the Chicago area rose unexpectedly in February, industry data showed on Monday.

In a report, market research group Kingsbury International said its Chicago purchasing managers' index rose to a seasonally adjusted 71.2 in February, up from 68.8 in January.

Analysts had expected the index to decline to 67.5 in February.

On the index, a reading above 50.0 indicates expansion, below indicates contraction.

Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.62% to hit 1.3840.

Meanwhile, U.S. stock markets were up after the open. The Dow Jones Industrial Average gained 0.57%; the S&P 500 index climbed 0.54%, while the Nasdaq Composite index added 0.49%.

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