U.S. Leading Economic index likely to have risen modestly in February

The U.S. Conference Board’s Leading Economic Index data for the month of February is set to release tomorrow. The index highlights how the U.S. economy has lost some momentum in recent months.

The index has stalled since September, including an unchanged reading in January. According to a Wells Fargo research report, the index is likely to have risen modestly in February. More building permits, increased equity prices, stronger capital goods orders and a recovery in consumer expectations should all add to the index.

However, partly countering those gains look to be fewer hours worked in the manufacturing sector alongside a fall in the ISM new orders index.

“Even with a gain in February, the LEI points to slowing growth in the economy as fiscal stimulus wanes and monetary policy support is removed. The slowdown is consistent with the Fed taking its time in deciding its next move”, added Wells Fargo.

At 18:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at -31.0154 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex