MNI Chicago Business Barometer comes in at 57.6 against 56.5 consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The MNI Chicago Business Barometer, a measure of business activity in the Chicago region, printed at 57.6 for July. This figure came in above the consensus expectation of 56.5, representing a 1.9% surprise. The previous month’s reading was 56.7.
Following the release, market reactions varied. The EURUSD moved +21 pips one hour after the print, exceeding its typical top-quarter move of 17 pips. GBPUSD also saw a significant move of +32 pips, surpassing its top-quarter threshold of 26 pips. XAUUSD experienced a notable move of +153 pips, well above its typical top-quarter move of 66 pips. In contrast, USDCAD moved +7.8 pips, which is small compared to its median 1-hour move of 16 pips. AUDUSD’s +2.7 pips move was also small relative to its median 1-hour move of 10 pips. NZDUSD moved +8.8 pips, USDCHF moved -13 pips, and USDJPY moved -19 pips, all within or near their typical median 1-hour ranges of 9, 10, and 10 pips respectively.