German Industrial Production jumps 2.9% MoM in August vs. 0.8% expected
Source Fxstreet
Germany’s industrial sector quickened its pace of expansion in August, the latest data published by Destatis showed on Tuesday.
Industrial output in the Eurozone’s economic powerhouse rose 2.9% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, compared to the expected increase of 0.8% and a -2.4% drop reported in July.
German Industrial Production declined by 2.7% in the year through August versus July’s -5.3%.
EUR/USD reaction to the German Industrial Production data
The improvement in the German industrial sector fails to offer a fresh boost to Euro buyers, as EUR/USD continues to hold higher ground near 1.0985. The pair is up 0.10% on the day, at the press time.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold (XAU/USD) trades around $4,050 on Wednesday, down 1.40% on the day at the time of writing, as investors favor the US Dollar (USD) following a fresh deterioration in tensions between the United States (US) and Iran.
As of the Asian session on July 8, WTI ( USOIL) crude oil prices rose to around $72, rebounding significantly from previous trading sessions. From a technical perspective, oil prices had
US President Trump stated at the NATO annual summit on July 8 that he believes the US-Iran memorandum of understanding is "over." This means the temporary ceasefire state between the two
United States (US) President Donald Trump said during European trading hours on Wednesday that the memorandum of understanding (MoU) with Iran, aimed at ending the war in the Middle East, is over.
West Texas Intermediate (WTI) oil price continues to advance after registering nearly 5% gains in the previous day, trading around $72.20 per barrel during the Asian hours on Wednesday.
Related Instrument
