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More US Disappointment: Industrial Output Falls 0.1%

Industrial output in the US dropped by 0.1%. Expectations for a rise of 0.1%, after mixed data beforehand. This joins the long list of disappointment from the US economy.

Last month’s rise was revised to the downside: from 1.1% to 1%. Reaction in currency markets is limited as everyone is waiting for the Greek elections.

EUR/USD remains in the 1.2587 to 1.2624 range. USD/JPY remains under 79 and isn’t moving too much.

The Capacity Rate Utilization also fell short with 79%. Estimations stood on 79.2%.

Earlier, the  Empire State Manufacturing Index disappointed badly by dropping from 17.1 to 2.3 points. A slide to 13.6 was predicted. The  TIC Long-Term Purchases fell short as well with only 25.6 billion, while expectations stood on 45.3 billion.

There is one more figure left for today: consumer sentiment from the University of Michigan. See how to trade this event with EUR/USD.

US data is below expectations lately. This was seen in retail sales, jobless claims and other indicators. However, the US still enjoys some growth and is considered a “safe haven”, in times of trouble.

Athens is now the epicenter world, with Greek elections looming on Sunday. See the 3 scenarios for the Greek elections.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.