German Industrial Production drops 1.0% MoM in October vs. +1.2% expected
Source Fxstreet
Germany’s industrial sector extended its downtrend in October, according to the latest data published by Destatis on Friday.
In the Eurozone’s economic powerhouse, industrial output dropped by 1.0% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, compared to the expected 1.2% rebound and a revised 2.0% decline in September.
German Industrial Production tumbled by 4.5% year-on-year (YoY) in October versus September’s -4.3% revision.
EUR/USD reaction to the German Industrial Production data
The downbeat German data have little to no impact on the Euro, as EUR/USD holds near 1.0570, down 0.15% on the day, at the press time.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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AUD/USD holds ground near 0.6700 due to cautious RBA toneAUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.
AUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.
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