The “greenback” remains neutral. Overview for 16.09.2021

EURUSD is “hovering”; the major currency pair is barely moving. 

The situation in EURUSD hasn’t changed much by Thursday. the current quote for the instrument is 1.1774.

The American statistics published yesterday were rather mixed. For example, the Industrial Production added 0.4% m/m in August, which is worse than both previous and expected readings of 0.8% m/m and 0.5% m/m. On YoY, the indicator expanded by 5.9%

It’s interesting that the Manufacturing Production added only 0.2% m/m in August. The key reason for that is the Ida storm in the Gulf of Mexico and other related problems. Apart from that, the sector still lacks raw materials and manpower – these are the pandemic’s consequences. 

The Manufacturing Production accounts for 12% of the entire American economy, that’s why the weak recovery rate is quite serious. 

The Capacity Utilization Rate was 76.43% in August, which is a bit better than both previous and expected readings. 

Now, investors’ attention is switching to the Retail Sales from the USA, which is scheduled for a release later in the afternoon. The indicator is expected to drop 0.7% m/m in August after losing 1.1% m/m in July. The more significant the decline, the worse for the USD.