• Industrial Production in US grew at a softer pace than expected in May.
  • US Dollar Index clings to strong daily gains above 104.50. 

Industrial Production in the US expanded by 0.2% on a monthly basis in May, the data published by the US Federal Reserve revealed on Friday. This print followed April's expansion of 1.4% and came in weaker than the market expectation of 0.4%. 

"In May, manufacturing output declined 0.1% after three months when growth averaged nearly 1%," The Fed's publication further read. "Capacity utilization edged up to 79.0%, 0.5 percentage point below its long-run (1972–2021) average."

Market reaction

The greenback holds its ground after these data and the US Dollar Index was last seen rising 0.8% on the day at 104.62.

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