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Chicago PMI rises unexpectedly in February

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Forex Pros - Manufacturing activity in the Chicago area rose unexpectedly in February, industry data showed on Monday.

In a report, market research group Kingsbury International said its Chicago purchasing managers' index rose to a seasonally adjusted 71.2 in February, up from 68.8 in January.

Analysts had expected the index to decline to 67.5 in February.

On the index, a reading above 50.0 indicates expansion, below indicates contraction.

Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.62% to hit 1.3840.

Meanwhile, U.S. stock markets were up after the open. The Dow Jones Industrial Average gained 0.57%; the S&P 500 index climbed 0.54%, while the Nasdaq Composite index added 0.49%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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