Investing.com - Manufacturing activity in the Chicago-area contracted unexpectedly in September, dampening optimism over the U.S. economic outlook, industry data showed on Wednesday.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index tumbled by 5.7 points to a seasonally adjusted 48.7 this month from a reading of 54.4 in August. Analysts had expected the index to fall 1.4 points to 53.0 in September.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
EUR/USD was trading at 1.1195 from around 1.1192 ahead of the release of the data, GBP/USD was at 1.5177 from 1.5169 earlier, while USD/JPY was at 120.06 compared to 120.07 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 96.34, compared to 96.36 ahead of the report.
Meanwhile, U.S. stock markets were higher after the open. The Dow 30 rallied 1.3%, the S&P 500 jumped 1.4%, while the Nasdaq Composite rose 1.75%.
Elsewhere, in the commodities market, gold futures traded at $1,114.40 a troy ounce, compared to $1,113.60 ahead of the data, while crude oil traded at $45.36 a barrel from $45.29 earlier.