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Chicago PMI at a five and a half year low

Friday, Feb 27 2015
The Chicago Business Barometer plunged 13.6 points to 45.8 in February, missing expectations on a smaller decline to 59.4. This is the lowest level since July 2009 and the first time in contraction since April 2013.
 
The sharp fall in business activity in February came as Production, New Orders, Order Backlogs and Employment all suffered double digit losses, leaving them below the 50 level which separates contraction from expansion. 
 
Dewpite the data, USD is still higher against its major rivals. Euro is currently being traded few points above  1.1180 level, Sterling is around 1.54 area, while is Aussie is at0.78 handle. Later today, Pending Home Sales figures are scheduled for a release.
More in this category: « U.S. GDP rose by 2.2% in Q4 Pending Home Sales climbed less than expected »

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