US: Chicago Fed National Activity Index improves to 0 66 in January vs 0 4 expected forexcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexcrunch.com Daily Mail and Mail on Sunday newspapers.
12/21/2020 10:29:50 AM GMT | By Eren Sengezer
Broad-based USD strength is driving USD/CHF higher on Monday.
Renewed coronavirus concerns trigger a flight to safety at the start of the week.
US Dollar Index is posting strong daily gains, closes in on 91.00.
After posting its lowest weekly close in nearly five years at 0.8932, the USD/CHF pair staged an impressive rebound on Monday and climbed to fresh weekly tops. As of writing, the pair was up 0.83% on a daily basis at 0.8905.
DXY surges amid risk aversion
The broad-based USD strength seems to be fueling USD/CHF s rally at the start of the week. The lack of progress in EU-UK trade negotiations and concerns over the new string of coronavirus forcing countries to take strict lockdown measures weigh on market sentiment.
In today’s show, you will learn why Congress terminated the Fed’s Main Street Lending Program, how the Fed proved Steve right, what the Chicago National Activity Index says about the U.S. economy, how today’s 20-year Treasury Bond auction went, how hedge-fund managers are positioned in the futures market with a focus on Treasuries and the Dollar, and why contracting credit leads to lower Treasury yields.
Stifel chief economist sees difficult path to recovery bondbuyer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bondbuyer.com Daily Mail and Mail on Sunday newspapers.
Dec 21, 2020 14:37 GMTFXStreet News
Chicago Fed’s National Activity Index edged lower in November.
US Dollar Index clings to daily gains near 90.50 after the data.
The Federal Reserve Bank of Chicago’s National Activity Index (CFNAI) declined from 1.01 (revised from 0.83) in October to 0.7 in November.
Key takeaways
“The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.53 in November from +0.62 in October.”
“Forty-nine of the 85 individual indicators made positive contributions to the CFNAI in November, while 36 made negative contributions.”
“Twenty indicators improved from October to November, 64 indicators deteriorated, and one was unchanged.”
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen gaining 0.39% on the day at 90.50.Get the 5 most predictable currency pairs