1:25 PM · 16 August 2023

BREAKING: EURUSD gains after industrial production data!

In July, industrial production in the US rebounded with a 1.0% increase after experiencing declines in the previous two months. Manufacturing output saw a 0.5% rise, driven by a substantial 5.2% surge in motor vehicle and parts production, while other factory output saw a modest 0.1% increase. Mining and utility sectors also saw gains, with mining moving up by 0.5% and utilities climbing by 5.4% due to elevated cooling demand caused by high temperatures. Total industrial production in July remained 0.2% below the levels of the previous year.

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