10 Feb 2014
EUR/USD dips on further industrial weakness
FXStreet (London) - EUR/USD fell from early morning highs after the Eurozone showed further signs of Economic sluggishness with industrial output undershooting expectations.
Italian declines
Figures released by Italian statistics agency Istat showed that December industrial production fell by a seasonally-adjusted 0.9 percent compared with the previous month.
Calendar-adjusted industrial production index decreased by 0.7% compared with December 2012.
France misses expectations
French industrial production fell by 0.3 percent compared to November, when it recorded a 1.2 percent increase. Production fell short of consensus expectations of a 0.2 percent gain.
The release from Insee noted that production in the French manufacturing sector expanded 0.9 percent year-on-year in December. Month-on-month December factory output printed flat, after a 0.2 percent gain in November.
EUR/USD is currently trading at USD1.3636, falling from early highs at USD1.3650. the pair remains up 0.11 percent on the opening USD1.3618.
Italian declines
Figures released by Italian statistics agency Istat showed that December industrial production fell by a seasonally-adjusted 0.9 percent compared with the previous month.
Calendar-adjusted industrial production index decreased by 0.7% compared with December 2012.
France misses expectations
French industrial production fell by 0.3 percent compared to November, when it recorded a 1.2 percent increase. Production fell short of consensus expectations of a 0.2 percent gain.
The release from Insee noted that production in the French manufacturing sector expanded 0.9 percent year-on-year in December. Month-on-month December factory output printed flat, after a 0.2 percent gain in November.
EUR/USD is currently trading at USD1.3636, falling from early highs at USD1.3650. the pair remains up 0.11 percent on the opening USD1.3618.