Eurozone Industrial Production Figures for April Deliver EUR Support

It’s a quieter day on the economic data front this morning. Industrial production figures for the Eurozone were in focus this morning.

Industrial Production

In April, industrial production increased by 0.8%, coming in ahead of a forecasted and March 0.4% rise.

According to Eurostat,

• Production of consumer goods rose by 3.4%, energy by 3.2%, capital goods by 1.4%, and intermediate goods by 0.8%.
• Bucking the trend, however, was a 0.3% decline in the production of non-durable consumer goods.
• Belgium (+7.4%), Malta (+5.6%), and Estonia (+4.4%) recorded the largest monthly increases.
• Lithuania registered the largest monthly decrease of 2.4% in the month.
• Compared with April 2020, industrial production was up by 39.3%.
• The production of durable consumer goods was up by 117.3%, year-on-year.
• There were also marked increases in the production of capital goods (+65.4%) and intermediate goods (+38.7%).
• Non-durable consumer goods (+15.4%) and energy (+14.4%) production were up modestly by comparison.

Market Impact

Ahead of the trade data, the EUR had fallen to a pre-stat and current day low $1.20943 before rising to a pre-stat high and current day high $1.21208.

In response to the industrial production figures, the EUR slipped to a post-stat low $1.21085 before rising to a post-stat high $1.21187.

At the time of writing, the EUR was up by 0.06% to $1.21154.