Chicago PMI falls less-than-expected in March

Forex Pros – Manufacturing activity in the Chicago area fell less-than-expected in March, industry data showed on Thursday.

In a report, market research group Kingsbury International said its Chicago purchasing managers’ index fell to a seasonally adjusted 70.6 in March from 71.2 in February.

Analysts had expected the index to decline to 69.5 in March.

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

According to the data, the Prices Paid index resumed its upward trend in March, while the Employment index rose to its third-highest level since 1966.

Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.34% to hit 1.4175.

Meanwhile, U.S. stock markets were mixed after the open. The Dow Jones Industrial Average eased up 0.05%, the S&P 500 index slipped 0.05%, while the Nasdaq Composite index added 0.1%.





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