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Fundamental Forex Analysis

Eurozone Industrial Production contracted by 1.5% in 12-months to November

  • Industrial Production in eurozone expanded at a soft pace in November. 
  • Trade Surplus in eurozone widened less than expected. 

Industrial Production in the eurozone contracted by 1.5% on a yearly basis in November despite a 0.2% expansion on a monthly basis, the data published by the Eurostat showed on Wednesday. This reading came in worse than the market expectation for a decline of 0.1%. 

The EUR/USD pair came under modest bearish pressure after the disappointing data and was last seen trading at 1.1125, where it was virtually unchanged on a daily basis.

Other data from the eurozone revealed that the Trade Surplus (seasonally adjusted) narrowed to €19.2 billion in November from €24 billion in October to miss the market expectation of €21.2 billion.

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