The Euro lost yesterday’s gains against the Greenback, after the disappointing report on German industrial production came in. The EUR/USD exchange rate fell 10 base points to the 1.1592 mark.
German industrial output dropped twice as much as anticipated in September, following a strong increase in the prior month. The Germany’s Economy Ministry stated that country’s industrial production fell 1.6% for the month, though still expanded 0.8% on a quarterly basis. In addition, data revealed that solid demand from other EZ countries for capital goods such as vehicles and machines contributed to a surprise rise in September’s industrial orders, suggesting the industrial output to increase in the coming months.
