U.S. industrial production rises more-than-expected

Forexpros – Industrial production in the U.S. rose more-than-expected in July, increasing the most since December official data showed on Tuesday.

In a report, the U.S. Federal Reserve said that industrial production rose by a seasonally adjusted 0.9% in July, above expectations for a 0.5% increase.

The previous month’s figure was revised up to a 0.4% gain from a previously reported 0.2% increase.

The report showed that the capacity utilization rate rose to 77.5% in July, the highest since December 2008.

The previous month’s figure was revised up to 76.9% from 76.7%.

Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.31% to trade at 1.4398.

Meanwhile, U.S. stock future indices pared losses after the release of the data.

The Dow Jones Industrial Average futures fell 0.75%, S&P 500 futures dropped 0.9%, while the Nasdaq 100 futures pointed to a loss of 0.85%. 

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