In its latest press release, the Federal Reserve Bank of Chicago revealed that the economic growth lost momentum in April with the National Activity Index dropping to -0.45 from 0.05 (revised from -0.15) in March and falling short of the market expectation of -0.33.
“The CFNAI Diffusion Index, which is also a three-month moving average, decreased to -0.22 in April from -0.16 in March,” the publication further read.
Nevertheless, the market reaction to the data was muted and with the US Dollar Index continuing to move sideways below the 98 mark.
Share
