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

By:
Bob Mason
Published: Sep 7, 2021, 08:50 UTC

Yet more positive economic data from Germany failed to support the EUR. GDP and economic sentiment figures will likely have more influence, however.

euro bills

In this article:

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

German industrial production was in focus ahead of Eurozone 2nd 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.

EURUSD 070921 Hourly Chart

Next Up

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

About the Author

Bob Masonauthor

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.

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