It was a relatively quiet morning on the Eurozone economic calendar this morning. Key stats included German industrial production figures for December. Following a string of upbeat stats from Germany, economists had forecast a 0.4% increase to reverse a prelim 0.2% decline from November.
German Industrial Production
In December, German industrial production fell by 0.3%, month-on-month.
According to Destatis,
- Production in industry excluding energy and construction was up 1.2%.
- Within industry, the production of capital goods jumped by 2.5%.
- Intermediate goods production rose by a more modest 0.6% rise, while consumer goods production fell by 0.5%.
- Outside of industry, energy production fell by 0.7%, with production in construction sliding by 7.3%.
- According to finalized figures, production increased by 0.3% in November.
- Production in 2021 was 3.0% higher than in 2020 and 5.5% lower than in the pre-crisis year of 2019.
Market Impact
Ahead of today’s stats, the EUR had fallen to a pre-stat and current day low $1.14247 before rising to a pre-stat high $1.14645.
In response to today’s stats, the EUR rose to a post-stat high $1.14324 before falling to a post-stat low $1.14279.
At the time of writing, the EUR was down by 0.16% to $1.14322.
Next Up
There are no major stats due out of the U.S to consider. On the monetary policy front, ECB President Lagarde could move the dial, however, in a scheduled speech later today.