US: Chicago Fed National Activity Index improves to 0.66 in January vs. 0.4 expected

• Chicago Fed National Activity Index improved modestly in January.
• US Dollar Index stays in the negative territory below 90.30.

The Federal Reserve Bank of Chicago's National Activity Index (CFNAI) rose to 0.66 in January from 0.41 in December and came in better than the market expectation of 0.4%.

"The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.34 in January from +0.49 in December," the publication read. "Fifty-three of the 85 individual indicators made positive contributions to the CFNAI in January, while 32 made negative contributions. Forty-nine indicators improved from December to January, while 36 indicators deteriorated."

Market reaction 

The US Dollar Index edged slightly lower after this report and was last seen losing 0.14% on a daily basis at 90.23.