EUR/USD Unmoved Following Positive Euro Industrial Production Data

By Benjamin Spier,

THE TAKEAWAY: Eurozone industrial production rises 0.5% during February, beats analysts’ expectations -> Weak production in Germany outweighed by 13% increase in the Netherlands -> EUR/USD stays at the same level following the report

Eurozone industrial production rose by 0.5% for the month of February, led by France and the Netherlands. The actual production beat average estimates of a 0.2% decline. However, the numbers were 1.8% lower than February of the previous year, as expected by analysts.

The numbers can be seen as a sign of economic stabilization for the Eurozone; and a drop in industrial production in Germany and Spain was offset by improved production in France and the Netherlands. The weak German numbers that were released last week were not fully represented in today’s numbers as the slump in construction output was not included in the Eurozone survey.

EUR/USD did not react strongly to the better than expected data. The pair rose and fell following the release, but later settled back down to initial levels.
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Original Article: http://www.dailyfx.com/forex/market_alert/2012/04/12/EURUSD_Unmoved_Following_Positive_Euro_Industrial_Production_Data.html

DailyFX is the forex news and research arm of FXCM (NYSE: FXCM), which provides currency trading and brokerage services and is an advertiser on TheStreet websites. Any opinions, news, research, analyses, prices, or other information is provided as general market commentary, and does not constitute investment advice. Dailyfx will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Currency trading involves significant risk of loss. Individual authors may hold positions in the currencies discussed in the article.