US Industrial Production rises 0.4% in March as expected
Source Fxstreet
- Industrial Production in the US continued to expand at a moderate pace.
- US Dollar Index continues to fluctuate above 106.00.
Industrial Production in the US grew 0.4% on a monthly basis in March, the US Federal Reserve (Fed) reported on Tuesday. This reading followed the 0.4% increase recorded in February and came in line with the market expectation.
"Manufacturing output increased 0.5% in March, boosted in part by a gain of 3.1% in motor vehicles and parts; factory output excluding motor vehicles and parts moved up 0.3%," the Fed said in its press release. "Capacity utilization moved up to 78.4% in March, a rate that is 1.2 percentage points below its long-run (1972–2023) average."
Market reaction
The US Dollar showed no immediate reaction to this report. At the time of press, the US Dollar Index was up 0.1% on the day at 106.27.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As of the Asian session on July 3, gold prices ( XAUUSD) extended yesterday's rally, climbing to an intraday high of $4,195.52. Looking at the charts, gold has gained over $100 in total s
Gold gains momentum above $4,100 after weak US NFP data Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls (NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.
Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls (NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.
As of the European session on July 2, WTI ( USOIL) crude oil prices fluctuated with a weak bias around $68, extending their prior downward trend. From a technical perspective, against the
Japanese Yen recovers sharply from 40-year low as intervention bets trigger short-coveringThe USD/JPY pair comes under intense selling pressure and plummets to the 161.00 neighborhood heading into the European session on Thursday, snapping a three-day winning streak to the highest since 1986 set the previous day.
The USD/JPY pair comes under intense selling pressure and plummets to the 161.00 neighborhood heading into the European session on Thursday, snapping a three-day winning streak to the highest since 1986 set the previous day.
On Wednesday (July 1), Eastern Time, Federal Reserve Chairman Warsh stated at the ECB's annual forum in Sintra, Portugal, that while recent US inflation expectations and inflation risks h
