German Industrial Production Delivers Little EUR Comfort. GDP and Economic Sentiment Up Next

It’s a busy day on the Eurozone economic calendar today.

German industrial production was in focus ahead of Eurozone 2^nd quarter GDP and ZEW Economic Sentiment figures for Germany and the Eurozone.

Industrial Production

In July, industrial production rose by 1.0%, reversing a 1.0% fall from June. Economists had forecast a 0.9% increase.

According to Destatis,

• Production in industry excl. energy and construction was up 1.3%.
• Within industry, the production of capital goods increased 3.2%, with the production of consumer goods up 0.9%.
• By contrast, the production of intermediate goods fell by 0.5%.
• Outside industry, energy production was down 3.2%, while production in construction increased 1.1%.

Market Impact

Ahead of today’s figures, the EUR had risen to a pre-stat and current high $1.18855 before falling to a pre-stat low $1.18708.

In response to today’s stats, the EUR rose to post-stat high $1.18825 before falling to a post-stat and current day low $1.18598.

At the time of writing, the EUR was down by 0.03% to $1.18670.

Next Up

2^nd quarter GDP numbers for the Eurozone and ZEW Economic Sentiment figures for Germany and the Eurozone.