Fed Industrial Production m/m comes in at 0.2% against 0.1% consensus

The Federal Reserve’s Industrial Production month over month report for the United States showed an increase of 0.2%. This figure came in above the consensus expectation of 0.1%, representing a 100.0% surprise compared to the forecast. The previous month’s reading was 0.1%.

Following the release, the US Dollar showed some strength against major pairs in the initial 15 minutes. USDJPY moved up by 3.8 pips, USDCHF gained 3.3 pips, and USDCAD was up 0.6 pips. Conversely, AUDUSD declined by 2.4 pips, EURUSD fell 3.3 pips, GBPUSD was down 3.4 pips, and NZDUSD dropped 2.6 pips. Gold, XAUUSD, moved down by 66 pips. These moves are generally small when compared to the median 1-hour moves observed after past releases, such as EURUSD’s median 1-hour move of 9 pips or XAUUSD’s median 1-hour move of 34 pips.