Investing.com - Industrial production in the U.S. rose less than expected in January, dampening optimism over the economic outlook, official data showed on Wednesday.
In a report, the Federal Reserve said that industrial production increased by a seasonally adjusted 0.2% last month, below expectations for a gain of 0.3%.
Industrial production for December was revised down to a decline of 0.3% from a previously reported drop of 0.1%.
The report showed that the capacity utilization rate, a measure of how fully firms are using their resources, held steady at 79.4% in January, compared to expectations for a reading of 79.9%.
EUR/USD was trading at 1.1380 from around 1.1373 ahead of the release of the data, while GBP/USD was at 1.5434 from 1.5427 earlier, while USD/JPY was at 119.19 from 119.25 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 94.36, compared to 94.41 ahead of the report.
Meanwhile, U.S. stock futures pointed to a modestly lower open. The Dow futures pointed to a loss of 0.15% at the open, the S&P 500 futures inched down 0.2%, while the Nasdaq 100 futures shed 0.1%.
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U.S. industrial production rises 0.2% in January
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