Investing.com - Manufacturing activity in the Chicago-area expanded at a slower pace than expected in August, dampening optimism over the U.S. economic outlook, industry data showed on Monday.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index declined by 0.3 points to a seasonally adjusted 54.4 this month from a reading of 54.7 in July. Analysts had expected the index to hold steady at 54.7 in August.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
EUR/USD was trading at 1.1234 from around 1.1237 ahead of the release of the data, GBP/USD was at 1.5403 from 1.5401 earlier, while USD/JPY was at 121.16 from 121.15 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.91, compared to 95.90 ahead of the report.
Meanwhile, U.S. stock markets held on to losses. The Dow 30 dropped 0.95%, the S&P 500 declined 0.95%, while the Nasdaq Composite slumped 0.25%.
Elsewhere, in the commodities market, gold futures traded at $1,128.90 a troy ounce, compared to $1,128.20 ahead of the data, while crude oil traded at $44.03 a barrel from $44.08 earlier.