BREAKING: US dollar sees little reaction to upbeat industrial production data

• Industrial production in the US increased 0.4% in September, after an upwardly revised -0.1% MoM decline in August and above market consensus of a 0.1% MoM advance.
• On the annual basis industrial production increased 5.3% year-on-year in September, from upwardly revised 3.9% in August. 

Manufacturing output growth accelerated to 4.7% from 3.5% in August, due to a 6.0% jump in the production of durable manufacturing, led by motor vehicles and parts, fabricated metal products, machinery, and aerospace and miscellaneous transportation equipment. Also, nondurable manufacturing increased 3.6%, boosted by the production of food, beverage, and tobacco products, and chemicals. Mining output jumped 11.1% (8.7%), while utilities output moved up 0.5% as a 4.3% advance in natural gas production was partially offset by a 0.3% decline in electric output.

EURUSD saw relatively small reaction to today’s release. The most popular currency pair continued to trade above support at 0.9850 level. Source: xStation5