US: All eyes on manufacturing and industrial production data today - Rabobank

According to analysts at Rabobank, for the markets the focus will be on the release of US industrial production, the Empire State Manufacturing index and the University of Michigan consumer sentiment survey.

Key Quotes                  

“In particular the latter two are for March, thus giving a relatively timely snapshot of economic sentiment in the wake of the US government shutdown. Both the Empire State index and the Michigan survey were surprisingly weak in January but then showed a modest rebound in February, so with the consensus looking for both indicators to show further improvement in March it is basically saying that the US economy is still going pretty strong and that the recent dip was likely transitory. This is also expected to be reflected in growing industrial production in February. Hence a failure of today’s US data to show such improvement could potentially throw such beliefs into doubt.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

AUD/USD snaps two-day losing streak to extend recovery above 0.6500

AUD/USD trims losses to regain 0.6500 amid risk reset. A light economic calendar, absence of US response to the Hong Kong issue triggers the pullback. US holiday keeps qualitative catalysts on the driver’s seat


USD/JPY: Off intraday top, still above 107.00, as trade sentiment dwindles

USD/JPY steps back from the intraday top around 107.80. Hong Kong issue keeps the US and China at loggerheads. Japan readies another stimulus program, near to lift the state of emergency from Tokyo. 


Gold down by $6 in Asia, weekly chart shows bullish trend exhaustion

Gold, a safe-haven asset, is flashing red at press time even though the growth-linked currencies like the Aussie dollar are struggling to gain altitude. Technical charts indicate scope for deeper declines in the short-term.

Gold News

WTI regains $33.00, still below immediate support-turned-resistance

WTI recovers from an intraday low of $32.60. A two-week-old support-turned-resistance on buyers’ radars. Multiple supports will question the sellers below $31.80.

Oil News

EUR/USD peeps above 1.09, but range play continues

EUR/USD's daily chart shows a sideways channel pattern. A key oscillator indicates the pair could revisit the channel support. A range breakdown could cause more sellers to join the market and shift risk in favor of a re-test and possibly a break below the 2020 low of 1.0636 reached on March 23.