Investing.com - Manufacturing activity in the Chicago-area contracted unexpectedly in November, 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 tumbled by 7.5 points to a seasonally adjusted 48.7 this month from a reading of 56.2 in October. Analysts had expected the index to fall 2.2 points to 54.0 in November.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
EUR/USD was trading at 1.0585 from around 1.0581 ahead of the release of the data, GBP/USD was at 1.5055 from 1.5046 earlier, while USD/JPY was at 123.05 compared to 123.07 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 100.15, compared to 100.18 ahead of the report.
Meanwhile, U.S. stock markets were little changed after the open. The Dow 30 shed 0.1%, the S&P 500 dipped 0.1%, while the Nasdaq Composite rose 0.15%.
Elsewhere, in the commodities market, gold futures traded at $1,061.30 a troy ounce, compared to $1,060.90 ahead of the data, while crude oil traded at $42.25 a barrel from $42.34 earlier.