Forex News

US industrial production soars 0.6% in June

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U.S. industrial production rose more than forecast in June, adding to signs of strengthening recovery in economic growth in the second quarter.

Industrial output soared 0.6 percent last month, compared to both revised and expected readings of minus 0.5 percent and 0.5 percent respectively.

Capacity utilization rate reached 78.0 percent from a downwardly revised of 77.7 percent in May. That was lower than analysts’ projection of 78.4 percent.  

The dollar index traded higher at 94.45, after hitting a peak of 94.51, as of 12:40 GMT.

Federal Reserve Chair Jerome Powell is due to testify on the Semiannual Monetary Policy Report before the Senate Banking Committee in Washington DC.

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