Industrial production figures from France and Italy showed signs of life. French industrial production grew 0.3% on the month, while Italy’s production was up 0.1%.
The gains come on the back of Germany’s industrial production rising as well. This could potentially signal that business activity remains resilient to sluggish growth and demand.
EUR/USD Closes Flat After a Decline
The currency pair closed flat on Friday following a patch of declines from earlier in the week. While price managed to rebound late into Friday’s close, the euro remains below the resistance level of 1.1131. If resistance is formed here, then we expect a further move to the downside. Watch the support level of 1.1100. A break down below this level will indicate a move to 1.1072.
