BREAKING: US dollar strengthens after upbeat US industrial production data

Industrial production in the US increased to 1.4% from a month earlier in January, from -0.1% decline in December and above market consensus of a 0.4% advance. Manufacturing output rose 0.2%, with durable manufacturing, nondurable manufacturing, and other manufacturing (publishing and logging) each recording increases of 0.2% . Within durables, miscellaneous manufacturing and machinery posted the largest gains, while motor vehicles and parts and nonmetallic mineral products posted the largest losses. Within nondurables, sizable increases were recorded by textile and product mills; food, beverage, and tobacco products; and paper. The largest losses came in the indexes for printing and support and for petroleum and coal products, which both declined around 1.5%. Meanwhile, utilities jumped 9.9%, the most since records began in 1972; and mining output rose 1.0.

Industrial Production  jumped to 4.1% year-on-year in January. Manufacturing increased 2.5%, mining jumped 8.2% and utilities output 9.3%.

EURUSD broke below 1.1365 support which coincides with lower limit of the ascending channel after release of today’s data and next support at 1.1330 may be at risk. Source:xStation5