The last minute data before the FED meeting


Later on, we have the FED meeting which will take all the attention but first let´s take a look at the last round of economic data from the United States. The producer inflation numbers beat the expectations by 0.1% and the core inflation numbers beat expectations by 0.2%, so it looks like higher oil prices are filtering through the economy, as we have seen in other economies. The empire state manufacturing index also beat the expectations; it was supposed to be negative at -3.4 but it came out positive at 6. 

AUD/USD has been trading in a 30 pip range all day today

But the other hand the capacity utilization rate of the US economy came out 0.4% lower from last month and the industrial production declined by 0.4%. So, today´s data won´t give the FED any incentive to hike rates. If they were looking for any clues today they won´t find it here. The only thing which looks a bit brighter is the pick up in the producer inflation. Meanwhile, the price isn´t going anywhere anytime soon. The market is totally focused on the FED and has decided to stay on the sidelines at the moment. 

ABOUT THE AUTHOR See More
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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