BREAKING: USD ticks high after industrial production data beat

14:16 16 May 2023

US industrial production reading for April was released today at 2:15 pm BST. Report was expected to show 0.0% MoM in APril - neither growth, nor decline from previous month. Actual data turned out to be much better-than-expected with industrial production coming in at 0.5% MoM. Manufacturing production data also turned out to be a beat while capacity utilization matched estimates.

  • Industrial production: 0.5% MoM vs 0.0% MoM expected (+0.4% MoM previously)
  • Manufacturing production: 1.0% MoM vs 0.1% MoM expected (-0.8% MoM previously)
  • Capacity use: 79.7% vs 79.7% expected (79.8% previously)

While beat in industrial production that was quite large, market reaction was fairly muted. US dollar gained and EURUSD made another attempt at breaking below short-term support at 1.0880. 

Source: xStation5

US industrial production increased 0.5% MoM in April. Source: Macrobond, XTB

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back

Join over 1.6 Million investors from around the world