Another report from Germany delivers a major disappointment – industrial output in October declined a massive 5.3% y/y, way above expectations (-3.6%) and September data has been revised downwards. Markets hoped to see a minor improvement but instead the data shows no ray of hope. EURUSD remains unfazed though – the pair has climbed to 1.11 on global USD weakness as traders eye 1.1180 resistance. A lot still could change today as markets await the key NFP report from the US economy (1:30pm GMT).
Chart of the day - EURUSD (17.10.2025)
BREAKING: Final inflation reading matches expectations. Core HICP inflation marginally higher
Economic calendar: Eurozone inflation at the week’s close
BREAKING: Sweden's Unemployment Rate Slightly Decreases