Investing.com - Manufacturing activity in the Chicago-area contracted for the second consecutive month in March, fuelling concerns over the U.S. economic outlook, industry data showed on Tuesday.
In a report, market research group Kingsbury International said its Chicago purchasing managers' index improved by 0.5 points to a seasonally adjusted 46.3 this month from a reading of 45.8 in February. Analysts had expected the index to rise to 51.5 in March.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
EUR/USD was trading at 1.0743 from around 1.0749 ahead of the release of the data, GBP/USD was at 1.4804 from 1.4810, while USD/JPY was at 119.95 from 119.89 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 98.75, compared to 98.71 ahead of the report.
Meanwhile, U.S. stock markets extended losses. The Dow 30 shed 0.6%, the S&P 500 dipped 0.5%, while the Nasdaq Composite slumped 0.45%.
Elsewhere, in the commodities market, gold futures traded at $1,187.50 a troy ounce, compared to $1,188.30 ahead of the data, while crude oil traded at $47.97 a barrel from $48.08 earlier.
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