US: Industrial Production declined 0.2% in July to miss market estimate of +0.2%

• US industrial production declined 0.2% in July on a monthly basis.
• US Dollar Index stays in upper-half of its daily range.

The monthly data published by the Board of Governors of the Federal Reserve System, industrial production declines 0.2% on a monthly basis in July to come in worse than the market expectation for a growth of 0.2%. 

"Manufacturing output decreased 0.4% last month and has fallen more than 1-1/2% since December 2018," the press release read. "Capacity utilization for the industrial sector decreased 0.3% point in July to 77.5 %, a rate that is 2.3% below its long-run (1972–2018) average."

The Greenback ignored the disappointing production data and the US Dollar Index continues to move sideways near the 98 mark.