September 2017 US industrial production and manufacturing output report 17 October 2017
- Prior -0.9%. Revised to -0.7%
- Capacity utilisation 76.0% vs 76.2% exp. Prior 76.1%. Revised to 75.8%
- Manufacturing output 0.1% vs 0.1% exp m/m. Prior -0.3%. Revised to -0.2%
Pretty much close to expectations and with better revisions to all but Cap U. The hurricane efefct looks fairly obvious when looking atthe construction supplies component vs Aug.
The Fed also passed comment on the weather;
- Effects of Hurricane Harvey and, to a lesser extent, Irma, held down growth in total production in Spe by 0.25 percentage points.
Not a lot here for the dollar to jump on and it’s backing away from the highs further to 112.36.Back to bond watching and yields in 10’s are looking to hold the break above minor resistance. The buck is on the bond leash right now.
We do have a big 1.3bn going off at 112.00 at the top of the hour so we could see some further pressure on the pair.
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