(CercleFinance.com) -Small day on the FOREX despite a very busy statistical agenda this Thursday.
The Dollar loses a little ground with -0.1% on the ‘$-Index at 104.30… and this is mainly due to the Yen’s rebound of +0.6% to 150.45 (and +0.45% against the Euro).
For the rest, the gaps are insignificant with less than 0.05% on the Pound and Swiss Franc against the $.
The Euro gains +0.15% to 1.0860, in the absence of any significant figures from Europe. On the other hand, the agenda was full of US stats, with, in chronological order, new jobless claims: +13,0000 (to 231,000) in the USA for the week ending November 6.
The Labor Department unveiled a four-week moving average of 220.250 last week, up 7750 on the previous week’s revised average.
US industrial production fell by 0.6% in October, including a 0.7% drop in manufacturing output proper, following a 0.1% rise the previous month (revised from an initial estimate of +0.3%).
A large part of this decline was due to a 10% drop in the production of vehicles and auto parts, as a result of strikes at several major automakers”, explains the Federal Reserve, which publishes these figures.
It adds that the capacity utilization rate in US industry contracted by 0.6 percentage points to 78.9% in October, a level 0.8 points below its long-term average (1972-2022).
Meanwhile, manufacturing activity remains in negative territory: the ‘Philly Fed’ index, calculated by the Philadelphia Fed, rose by three points, but remained at -5.9 this month.
This is the 16th negative reading for the index in the last 18 months.
The shipments indicator has turned negative, while the new orders indicator is positive but weak.
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