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
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Ethereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
Bitcoin fell below $90,000 to around $88,300 as risk-off headlines hit markets, while on-chain data shows new whales now lead Realized Cap with a ~$98,000 cost basis and ~$6B unrealized losses.
Gold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.
President Trump's pledge to sign pro-crypto legislation boosts Bitcoin prices as he emphasizes keeping the US as a crypto leader.
