BREAKING: US dollar strengthens slightly after industrial production data

1:18 PM March 17, 2023

Industrial production in the US remain unchanged at 0.0% in February, below market consensus of a 0.2% MoM rise.

Manufacturing output edged up 0.1%, compared to forecasts of a 0.1% decrease. The indexes for durable manufacturing and nondurable manufacturing moved up 0.1% and 0.2%, respectively, while the index for other manufacturing (publishing and logging) fell 1.5%. Meanwhile, mining output fell 0.6% while the output of utilities rose 0.5%. Capacity utilization was unchanged in February at 78.0%, a rate that is 1.6% points below its long-run average.

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On the annual basis industrial production decreased to  -0.25% year-on-year in February, from 0.8% in previous month.

US Industrial Production decreased to -0.25% YoY last month - its first decline since February 2021. Source: Bloomberg via ZeroHedge

EURUSD is rather unimpressed by today's  data. The pair continues to trade around 1.0620 level. Source: xStation5



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