USD up on Industrial Production Data
Industrial production in the US increased to 0.90 % in March, from an upwardly revised 0.9% (from 0.5%) increase in February and above market consensus of a 0.4% advance. Manufacturing output advanced 0.9% more than forecasts of 0.6% but slowed from February’s 4-month high of 1.2%. The indexes for durable and nondurable manufacturing increased 1.3% and 0.4%, respectively, while the output of other manufacturing (publishing and logging) moved up 0.2%. Meanwhile, the index for utilities increased 0.4%, and the index for mining advanced 1.7%. Considering the first quarter of 2022, industrial activity advanced 8.1%.
On the annual basis industrial production reached 5.5% in March, compared to 7.5% in February.
EURUSD fell slightly after release of today’s data and approaches 1.0800 area. Source:xStation5
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