- US industrial production was unchanged in January.
- The Dollar Index posts strong daily gains around 104.00.
The US Federal Reserve reported on Wednesday that the Industrial production The US was unchanged in January, after contracting 1% in December. This data was lower than market expectations, which expected an increase of 0.5%.
“In January, manufacturing production rose 1.0% and mining 2.0%, after two months with substantial declines in each sector,” the Fed also said in its publication. “Capacity utilization dropped one tenth in January, to 78.3%, a rate that is 1.3 percentage points below its long-term average (1972-2022).”
market reaction
He dollar it has soared in the past few minutes, rising to fresh five and a half week highs at 104.05. The greenback remains strongly higher, trading above 103.98, gaining 0.71% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
