US: Industrial Production contracts by 0.1% in October
|- Industrial Production in the US contracted modestly in October.
- US Dollar Index stays in negative territory above 106.00.
Industrial Production in the United States (US) contracted by 0.1% on a monthly basis in October, the US Federal Reserve announced on Wednesday. This reading followed September's increase of 0.1% and came in worse than the market expectation for an expansion of 0.2%.
"Capacity utilization decreased 0.2 percentage point in October to 79.9%, a rate that is 0.3 percentage point above its long-run (1972–2021) average," the publication further read.
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.32% on the day at 106.23.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.