Economic growth in the US fell substantially in April. US Dollar Index recovers modestly, stays deep in negative territory. The Federal Reserve Bank of Chicago’s National Activity Index (CFNAI) in April fell to -16.74 in April to reveal a sharp contraction in the economic activity. This reading followed March’s print of -4.97. “The index’s three-month moving average, CFNAI-MA3, decreased to -7.22 in April from -1.69 in March,” Chicago Fed said in its publication. “Following a period of economic expansion, an increasing likelihood of a recession has historically been associated with a CFNAI-MA3 value below -0.70.” Market reaction The US Dollar Index edged slightly higher after this data and was last seen down 0.68% on the day at 99.13. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next ECB: More severe downturn may put public debt on unsustainable path FX Street 3 years Economic growth in the US fell substantially in April. US Dollar Index recovers modestly, stays deep in negative territory. The Federal Reserve Bank of Chicago's National Activity Index (CFNAI) in April fell to -16.74 in April to reveal a sharp contraction in the economic activity. This reading followed March's print of -4.97. "The index’s three-month moving average, CFNAI-MA3, decreased to -7.22 in April from -1.69 in March," Chicago Fed said in its publication. "Following a period of economic expansion, an increasing likelihood of a recession has historically been associated with a CFNAI-MA3 value below -0.70." Market reaction The US Dollar Index edged… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
