BREAKING: EUR drops after German industrial production miss

German industrial production report for November was released today at 7:00 am GMT. Report was expected to show a month-over-month increase in German production. However, production was still expected to be lower on year-over-year basis.

Actual data turned out to be a big disappointment, with production dropping on an annual as well as on a monthly basis. EUR moved lower following the release, with EURUSD dropping to a fresh daily low below 1.0950 mark.

Germany, industrial production for November

• Annual: -4.8% YoY vs -4.0% YoY expected (-3.4% YoY previously)
• Monthly: -0.7% MoM vs +0.2% MoM expected (-0.4% MoM previously)

Source: xStation5