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BREAKING: EUR drops after German industrial production data

8:03 AM 7 December 2023

German industrial production data for October was released this morning at 7:00 am GMT. Report was expected to show a 3% YoY drop, an improvement from -3.7% YoY reported for September. On a monthly basis, production was seen rising 0.2% MoM. Actual report turned out to be worse than expected with production dropping 0.4% MoM and 3.5% YoY. 

EUR moved lower in response to the release with EURUSD reaching a fresh daily low near 1.0750 mark. Equity indices also took a hit with DE30 dropping around 0.1%.

Source: xStation5

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