Economic data from the Eurozone failed to support the EUR ahead of inflation figures from the U.S later today...
It was another relatively busy Eurozone economic calendar. Industrial production figures for the Eurozone and finalized inflation figures for France and Germany were in focus this morning.
In the month of April, consumer price increased by x%, following a 0.7% rise in March. This was in line with prelim figures.
At the turn of the quarter, the annual rate of inflation picked up from 1.7% to 2.0% according to finalized figures. This was in line with prelim figures.
According to Destatis,
In the month of April, consumer prices increased by 0.1%, which was down from a prelim 0.2%. Consumer prices had risen by 0.6% in the month of March.
According to Insee.Fr,
In March, industrial production rose by 0.1%, month-on-month, following a 1.2% decline from April. Economists had forecast a 0.7% increase.
When compared with March 2020, industrial production was up by 10.9%, falling short of a forecasted 11.6 increase. In February, production had fallen by 1.8% year-on-year.
According to Eurostat,
Ahead of the numbers the EUR had risen to a pre-stat and current day high $1.21511 before falling to a pre-stat and current day low $1.21155.
In response to the finalized inflation figures, the EUR rose to a post-stat high $1.21439 before falling back to a post inflation data low $1.21262.
The industrial production figures failed to provide support, with the EUR falling from $1.21351 to a post-stat low $1.21297.
At the time of writing, the EUR was down by 0.15% to $1.21301.
April inflation figures from the U.S…
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.