The United States has published its Chicago PMI data at 21:45 WIB. This figure serves as a crucial economic indicator, showcasing business activity in the Chicago region. The data is derived from surveys conducted with purchasing managers in both the manufacturing and non-manufacturing sectors.
The recently released Chicago PMI stands at 36.9, which is significantly lower than the forecast of 43 set by trading central and also falls short of the previous level of 40.2.
Typically, a Chicago PMI that registers lower than expected is interpreted as a sign of regional economic slowdown, which may suggest an overall weakening in the national economy. This data will likely prompt considerations regarding potential monetary and fiscal policies aimed at bolstering the economy.
In the aftermath of this announcement, gold prices have shown volatility, fluctuating around the $2,611 mark. Similarly, major currencies such as EURUSD and GBPUSD have experienced turbulence following the data release.
