US: NFIB Business Optimism Index improves to 104.7 in November vs. 102.8 expected

• Business sentiment improves at a better pace than expected in November.
• US Dollar Index posts modest daily losses near 97.50.

Business confidence in the United States continued to strengthen in October with the National Federation of Independent Business's (NFIB) Small Business Optimism Index rising to 104.7 from 102.4 in October and surpassing the market expectation of 102.8.

"Small business optimism posted the largest month-over-month gain since May 2018, rising 2.3 points to 104.7 in November," noted the NFIB in its press release. "Owners reporting it is a good time to expand increased by 6 points and those expecting better business conditions increased by 3 points. The NFIB Uncertainty Index fell 6 points in November to 72, adding to the 4-point drop in October and the lowest reading since May 2018."

The US Dollar Index, however, failed to capitalize on the upbeat data and was last seen at 97.52, where it was down 0.15% on the day.