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Euro ignores positive industrial production figures

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Financial and commodity markets analytics

The Euro failed to capitalize on strong industrial production figures today instead focusing on data out later in the week including the latest interest rate decision from the US Federal Reserve.

At 8.21pm (GMT) the EUR/USD pair was trading at US$1.10.96, down around about 0.5 percent from yesterdays close.

Industrial production figures out of Europe showed the biggest increase in 6 years helped by the energy sector and a range of other good.

The yearly figure rose by 2.8 percent against analysts’ expectations for a figure of 0.9 percent helped by Eurozone heavyweights Germany, Italy and France.

The monthly figure was equally impressive coming in at 2.1 percent against predictions for a 1.5 percent rise.

The numbers come on the back of the ECB’s decision to boost their stimulus program 2 days ago in order to increase consumer spending which has been a drag on the economy for quite some time.

The European currency seemed uninterested in the figures and after slightly gaining after the announcement pulled back into negative territory form the previous day.

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