German industrial production data for June was released this morning at 8:00 a.m. The report was expected to show a 0.4% MoM decline in German industrial production, following a 0.2% MoM decline in May. However, the actual data shows a drop in production of 1.5% MoM in June. On a yearly basis, production was down 1.7% YoY while the market was expecting a drop of just 0.2% YoY.
This is another report highlighting the difficulties within the German economy. Markets barely reacted to the release. The EURUSD rose 0.05% following the release while the DE30 gained around 0.1%. However, these moves have already been erased and now EURUSD and DE30 are stable from pre-release levels.
Source : xStation5
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2023-08-07 06:16:18
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