Industrial Production in the US United States continued to expand at a moderate pace.
US Dollar Index continues to fluctuate above 106.00.
Industrial Production in the US grew 0.4% on a monthly basis in March, the US Federal Reserve (Fed) reported on Tuesday. This reading followed the 0.4% increase recorded in February and came in line with the market expectation.
“Manufacturing output increased 0.5% in March, boosted in part by a gain of 3.1% in motor vehicles and parts; factory output excluding motor vehicles and parts moved up 0.3%,” the Fed said in its press release. “Capacity utilization moved up to 78.4% in March, a rate that is 1.2 percentage points below its long-run (1972–2023) average.”
Market reaction
The US Dollar showed no immediate reaction to this report. At the time of press, the US Dollar Index was up 0.1% on the day at 106.27.
UNITED STATES INDUSTRIAL PRODUCTION (MOM) MEETS EXPECTATIONS (0.4%) IN MARCH
UNITED STATES CAPACITY UTILIZATION BELOW FORECASTS (78.5%) IN MARCH: ACTUAL (78.4%)
UNITED STATES REDBOOK INDEX (YOY) FELL FROM PREVIOUS 5.4% TO 4.9% IN APRIL 12
US United States HOUSING STARTS DECLINE 14.7% IN MARCH, BUILDING PERMITS FALL 4.3%
- Housing Starts and Building Permits in the US declined sharply in March.
- The US Dollar Index holds above 106.00 after housing data.
Housing Starts in the US fell 14.7% in March to 1.32 million units, the monthly data published by the US Census Bureau revealed on Tuesday. This reading followed the 12.7% increase (revised from 10.7%) recorded in February.
In the same period, Building Permits declined 4.3% after rising 2.3% (revised from 1.9%) in January.
Market reaction
The US Dollar Index edged lower with the immediate reaction and was last seen trading flat on the day at 106.15.
UNITED STATES HOUSING STARTS CHANGE DECLINED TO -14.7% IN MARCH FROM PREVIOUS 10.7%
UNITED STATES BUILDING PERMITS (MOM) CAME IN AT 1.458M, BELOW EXPECTATIONS (1.514M) IN MARCH
UNITED STATES BUILDING PERMITS CHANGE DECLINED TO -4.3% IN MARCH FROM PREVIOUS 1.9%
UNITED STATES HOUSING STARTS (MOM) BELOW FORECASTS (1.48M) IN MARCH: ACTUAL (1.321M)
UNITED STATES 52-WEEK BILL AUCTION: 4.915% VS 4.81%