BREAKING: EUR muted after German production miss

German industrial production data for June was released this morning at 7:00 am BST. Report was expected to show a 0.4% MoM drop in German industrial output, following a 0.2% MoM drop in May. However, actual data showed production dropping by 1.5% MoM in June. On an annual basis, production dropped 1.7% YoY while market expected a drop of only 0.2% YoY.

This is another report pointing to struggles within German economy. Markets barely saw any reaction to the release. EURUSD ticked 0.05% higher following the release while DE30 gained around 0.1%. However, those moves have been erased already and now EURUSD and DE30 flat compared to pre-release levels.

Source: xStation5