Economic data was on the lighter side once more on Thursday, with industrial production figures in focus.
Across the Eurozone, industrial production fell by 0.3% in June, month-on-month, following a 1.1% decline in May. Economists had forecast for production to stall at the end of the quarter.
According to Eurostat,
- Production of capital goods fell by 1.5% and energy by 0.6%.
- There were increases in production of durable consumer goods (+0.1%) and intermediate goods (+0.1%).
- Non-durable goods production led the way, however, surging by 1.6%.
- Among the member states, Ireland reported the largest fall (-4.4%) followed by Portugal (-2.6%).
- Malta (+5.2%), the Netherlands (+3.3%), and Estonia (+3.2%) registered the largest increases, however.
- Compared with June 2020, production was up 9.7%, softening from a 20.6% jump in May.
Market Impact
Ahead of today’s numbers, the EUR had fallen to a pre-stat and current day low $1.17328 before rising to a pre-stat and current day high $1.17483.
In response to today’s stats, the EUR rose to a post-stat high $1.17474 before falling to a post-stat low $1.17443.
At the time of writing, the EUR was up by 0.05% to $1.17449.
Next Up
From the U.S, wholesale inflation and weekly jobless claims figures will be in focus later in the European session.