Forex Pros - Industrial production in the U.S. fell unexpectedly in February, dropping for the second consecutive month, official data showed on Thursday.
In a report, the U.S. Federal Reserve said that industrial production declined by 0.1% in February, after rising by 0.3% in January, whose figure was revised up from a decline of -0.1%.
Analysts had expected industrial production to rise by 0.6% in February.
The report also showed that the capacity utilization rate rose less-than-expected in February, increasing by a seasonally adjusted 76.3%, after rising by 76.4% in January, whose figure was revised up from 76.1%.
Analysts had expected the capacity utilization rate to increase by 76.5% in February.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD climbing 0.77% to hit 1.4008.
Meanwhile, the outlook for U.S. equity markets was upbeat: Dow Jones Industrial Average futures pointed to a gain of 1.02%, S&P 500 futures indicated a rise of 1.31%, while the Nasdaq 100 futures added 1.19%.