U.S. industrial production rose 0.6% on a monthly basis in June after advancing 1% in May (up from 0.9%), the Federal Reserve reported. The figure was better than market expectations, as a 0.3% increase was expected.
Capacity utilisation, meanwhile, rose to 78.8% in June, its highest level in seven months, from 78.3% in the previous month (revised downwards from 78.7%). The result exceeded the forecast of 78.6%.
Dollar reaction
He The Dollar Index (DXY) has fallen in recent minutes to 103.65, a new four-month low. The decline is not due to the publication, but to Fed member Adriana Kugler, who has stated that the decline in US inflation combined with the weakening of the labor market could lead to a rate cut later this year. The index is hovering at 103.66 at the time of writing, down 0.55% on the day.
Source: Fx Street
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