Dollar Little Changed After US Industrial Production

The Federal Reserve's Industrial Production report for March will be released at 9.15 am ET Tuesday. The Production is projected to be up 0.4%, compared to 1.1% increase in the prior month. While the greenback held steady against the pound, it rose against the rest of major rivals.

Industrial production rose by 0.5% in March, which translated to a 4.3% gain year over year.

Together with the new round of USA sanctions hitting hard in April, March's disappointing industry results could lead to across-the-board revision of outlook on Russian Federation for 2018.

In March, durable goods production increased 0.4 percent, whereas output among nondurable goods manufacturers fell 0.3 percent.

"The data on the production of select items shows that the deceleration was common across industries, with the most visible contractions seen in construction materials, complemented by chemical industry and the output of vehicles and other transport equipment", VTB said.

Utilities' output gained 3.0% after decreasing 5.0% in February, while mining was 1.0% higher after a 2.9% increase the month before. In addition, capacity utilization ticked up from 77.7 percent in February to 78.0 percent in March, the strongest rate in three years.

While these numbers have to be very far off against estimates to move the markets, there also have been some very recent annual revisions to industrial production and capacity utilization.

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