US: Chicago Fed National Activity Index improves to 0.23 in January vs. 0.03 expected

• Chicago Fed National Activity Index recovered sharply in January.
• The US Dollar stays resilient against its rivals after this data.

The Federal Reserve Bank of Chicago's National Activity Index (CFNAI) rose to 0.23 in January from -0.46 in December. This reading came in much better than the market expectation of 0.03.

"The CFNAI Diffusion Index, which is also a three-month moving average, edged up to –0.10 in January from –0.15 in December," the publication further read. "Fifty-one of the 85 individual indicators made positive contributions to the CFNAI in January, while 34 made negative contributions."

Market reaction

The US Dollar Index clings to modest daily gains at 104.60 after this report.