Upbeat Eurozone Industrial Production Fails to Support the EUR ahead of U.S Inflation Numbers

It was another quiet day on the Eurozone economic calendar, with Eurozone industrial production figures in focus.

Industrial Production

In November, Eurozone industrial production increased by 2.3% versus a forecasted 0.5% rise. Production had fallen by 1.3% in October.

According to Eurostat,

• Production of non-durable consumer goods rose by 3.2%, capital goods by 1.5%, and energy by 1.2%.
• There was also a 0.9% increase in the production of intermediate goods, while durable consumer goods production fell by 0.2%.
• By member state, Ireland (+37.3%) recorded the largest monthly increase.
• Belgium (-4.4%), Malta (-3.7%), and Luxembourg (-2.3%) recorded the largest declines, however.
• Year-on-year, industrial production was down by 1.5% in the euro area.

Market Impact

Ahead of today’s stats, the EUR had risen to a pre-stat and current day high $1.13781 before easing back.

In response today’s stats, the EUR rose to a post-stat high $1.13683 before falling to a post-stat and current day low $1.13538.

At the time of writing, the EUR was down by 0.05% to $1.13617.

Next Up

U.S inflation figures for December will be in focus. These are key stats that will have a material impact on the majors and market risk sentiment mid-week.