Philly Fed Manufacturing Index and Industrial Production tilt the USD Uptrend

While the U.S. dollar could today compensate losses from the early trading and turn into profit, for the Publication of jobless claims and inflation, the course has yielded massive after publication of the figures of industrial production and the Philly Fed Manufacturing Index. In the past month showed the Philly Fed index with 19.8 points still the highest level since 2011. Although the forecast of 15.0 points left a drop this month expect this fell at 9.3 points, well behind expectations.

Also, the industrial production figures are disappointing. After an increase of 0.2% last month, this month an increase of 0.3% was expected. The published value of 0.0% dimmed hopes for a rapid growth of industrial production again.

As a result of the publications the USD slipped back into the red zone. The pair EUR/USD is currently a gain of 0.77% at a price of 1.3357. The GBP/USD rising 0.95% at a current exchange rate of 1.5646. To the JPY the USD lost 0.82% and the current price is at 97.32.

Today's development is a further indication that a plausible assessment of whether the Fed at its meeting on 17 September actually decide on a reduction of bond purchases is similar to looking into a crystal sphere. I can only recommend to watch up the U.S. economic data to this date exactly, to analyze, and only enter with a clear picture, just before the meeting, accordingly short or long go in the market.

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