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US DATA PREVIEW
US DATA PREVIEW: Next up is MNI Chicago PMI at 0945 ET. Our data team's preview:
- The Chicago Business Barometer eased in March to 47.8 after February's uptick.
In April, market analysts look for a weak reading of 38.2 as the outbreak of
COVID-19 hit the US economy. March's downtick was led by a decline in Production
and New Orders, while Supplier Deliveries surged due to supply chain disruption
- a pattern which is likely to happen again according to similar survey
evidence. The Kansas mfg index dropped to its lowest level on record, while the
Richmond mfg index slumped by 55 points. Both the Philadelphia Fed mfg index as
well as the Empire State mfg index posted severe declines in April.

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