Eurozone Industrial Production Data

• Industrial Production (m/m) (November), fact -1.7%, forecast -1.5%.
• Industrial Production (y/y) (November), fact -3.3%, forecast -2.3%.

The volume of industrial production in the eurozone in November accelerated the decline, increasing pressure on the single currency against the background of weak statistics for China and general increase of risks. Also, the decrease in the rate corresponds to the strongest decline since 2012.

Fig. 1. Eurozone industrial production chart

 

The dynamics of the EUR/USD pair has accelerated the decline in weak data for the euro area and the growth of negative sentiment, while limiting to the trading channel and support levels: 1.1440 and 1.1420. Significant support is the zone 1.1420-00, from which a turn is possible.

Fig. 2. EUR/USD. Current price – 1.1460

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Hanzenko Anton

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