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April 16, 2026
Industrial production in the U.S. decreased in March, according to a report released by the Federal Reserve on Thursday. Industrial production fell by 0.5% in March after climbing by 0.7% in February. The decrease in industrial production partly reflected significant pullbacks in utilities and mining output.
Utilities output tumbled by 2.3% in March after jumping by 1.8% in February, while mining output slumped by 1.2% in March after surging by 2.1% in February. The Fed said mining output also edged by 0.1% in March following a 0.4% increase in February.
The report also said capacity utilization in the industrial sector fell to 75.7% in March from 76.1% in February. The utilities sector slid to 70.3%, the mining sector fell to 84.5% and the manufacturing sector dipped to 75.3%. 04/16/2026 - 10:53:00 (RTTNews)
A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits pulled back in the week ended April 11. Initial jobless claims fell to 207,000, a decrease of 11,000 from the previous week's 218,000. The decrease came a week after jobless claims jumped to their highest level since hitting 230,000 in the week ended February 7.
Meanwhile, the report said the less volatile four-week moving average crept up to 209,750, an increase of 500 from the previous week's average of 209,250. The Labor Department said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also climbed by 31,000 to 1.818 million in the week ended April 4. The four-week moving average of continuing claims still slipped by 8,250 to 1,813,250, hitting its lowest level since the week ended June 1, 2024. 04/16/2026 - 09:29:00 (RTTNews)
Euro traded at 1.1781 against USD at 9:00 AM PST
Eurozone inflation accelerated in March, reaching its strongest level since mid-2024. The harmonized index of consumer prices (HICP) rose 2.6% on a yearly basis in March. This followed a 1.9% rise in February. A similar higher inflation was last seen in July 2024. On a monthly basis, HICP moved up 1.3% in March.
Core inflation that excludes energy, food, alcohol, and tobacco prices, eased to 2.3 from 2.4% in February. Energy prices rebounded 5.1% after a 3.1% drop. Meanwhile, services inflation eased to 3.2% from 3.4. Similarly, food inflation softened to 2.4% from 2.5%. Non-energy industrial goods prices also grew at a slower pace of 0.5%, following a 0.7% gain in February. 04/16/2026 - 05:30:00 (RTTNews)
British Pound traded at 1.3537 against USD at 9:00 AM PST
The U.K. economy logged robust growth in February before the outbreak of the war in the Middle East. Gross domestic product (GDP) logged a monthly growth of 0.5% in February, outpacing the 0.1% expansion in January.
On the production side, the dominant service sector expanded by 0.5% and construction output advanced 1.0% in February. Industrial production grew 0.5%, following successive falls of 0.1% in January and a 0.4% drop in December. Meanwhile, manufacturing output edged down 0.1% from January's 0.2% increase.
Compared to the same period last year, GDP advanced 1.0% in February. On a yearly basis, industrial production slid 0.4%, and manufacturing dropped 0.5% in February. In the three months to February, real GDP expanded 0.5%, following a growth of 0.3% in the three months to January. GDP grew 0.8% from the same three months a year ago.
The visible trade deficit widened to GBP 18.79 billion in February from GBP 15.1 billion in January. Exports of goods dropped 3.9%, while imports increased 4.7% from the prior month. The total trade balance showed a shortfall of GBP 720 million compared to a surplus of GBP 3.0 billion a month ago. 04/16/2026 - 04:02:00 (RTTNews)
China's economy grew in the first quarter, but the war in the Middle East darkens prospects due to supply-side shocks and its heavy reliance on energy imports. The GDP increased 5.0% on a yearly basis in the first quarter.
On a quarterly basis, GDP gained 1.3% but was slightly weaker. Industrial production growth eased to 5.7% in March from 6.3% in January and February. Similarly, retail sales grew at a slower pace of 1.7% year-on-year in March, compared to the January through February period's 2.8% expansion.
In the first quarter, fixed asset investment posted an expansion of 1.7% after rising 1.8% in the January to February period. Property investment declined 11.2%. The urban unemployment rate rose unexpectedly to 5.4% in March from 5.3% in February. 04/16/2026 - 00:54:00 (RTTNews)
This market update is prepared by Cathay Bank for informational purposes only and does not constitute any form of legal, tax or investment advice, nor should it be considered an assurance or guarantee of future exchange rate movements or trends. This information is provided without regard to the specific objectives, financial situations or needs of any recipient. Cathay Bank does not make any representations or warranties about the accuracy, completeness or adequacy of this market update.
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