Release Explanation: Measures the the total value of the output from mines, industrial factories and utilities is in the Industrial read. The value of manufactured goods is in the Manufacturing read. The Shipment number covers the amount sent abroad. Capacity Utilization cover at what rate Factories are running at compared to the maximum.

Trade Desk Thoughts: Industrial production continued to decline for the fifth month in a row. In January, industrial production was down by 7.5% from one month earlier, while from one year ago, production fell 19.3%. The previously released number of -4.6%, was revised higher, to -3.9%. Past releases have proven to have a strong impact, so some large swings can be expected in the following months.

Forex Technical Reaction: The euro is trading near the neutral pivot point, after it advanced 40 pips during the European session. Against the pound, the euro gained 45 pips today.