- Industrial Production in the euro area grew at a stronger pace than expected in September.
- EURUSD trades deep in negative territory at around 1.0300.
Industrial Production in the euro area and the European Union expanded by 0.9% on a monthly basis in August, the data published by Eurostat revealed on Monday. This reading came in better than the market expectation for an increase of 0.3%.
On a yearly basis, Industrial Production in the euro area grew by 4.9%, surpassing analysts’ estimate of 2.8% by a wide margin.
The Euro (EUR) failed to capitalize on the upbeat data and EURUSD was last seen losing 0.45% on the day at 1.0305.