09:38 AM EDT, 05/16/2024 (MT Newswires) -- The US dollar stalled in a prior advance against the euro and some other major currencies in early North American trade Thursday after manufacturing and industrial production figures surprised on the downside of expectations for April.

Dollar pairs stalled after Federal Reserve data showed industrial production output coming unchanged in April, down from a 0.1% increase previously and below the consensus for another 0.1% increase. This led annual industrial production to fall 0.4% in the year to the end of April following a 0% change in the year to the end of March.

Falling manufacturing production was a key contributor to the decline after falling 0.3% in April, more than reversing the 0.2% increase from March and surprising the consensus which had looked for a 0.1% increase last month. This led annual manufacturing production to fall 0.5% in the year to the end of April, partially unwinding a 0.5% increase from the prior month,

EUR/USD steadied around 1.0862 following the report but was still quoted 0.23% lower on the day while GBP/USD stabilized around 1.2655 but remained 0.23% lower for the session. USD/JPY, meanwhile, stalled around 155.32 after rising from 154.60 earlier in the session. The US dollar continued to be quoted higher against all G10 currencies in the wake of the report while maintaining modest losses against some G20 counterparts like the Korean won and South African rand.