US: Chicago PMI declines to 51.2 in August vs. 52 expected

• Chicago PMI fell short of market expectation in August. 
• US Dollar Index stays deep in the red near 92.50.

The Chicago Purchasing Managers Index released by ISM-Chicago edged lower to 51.2 in August from 51.9 in July. This reading missed the market expectation of 52 and showed an expansion in the private sector's economic activity at a softer pace. 

Market reaction

The US Dollar Index showed no significant reaction to this data and was last seen losing 0.55% on a daily basis at 92.48. Meanwhile, the S&P 500 Index was up 0.25% on the day at 3,493, suggesting that the market mood remains upbeat on Friday.

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