Industrial Production Dives in the Eurozone, Mirroring the Numbers From Euro Countries - Forex News by FX Leaders
Industrial production dives in Europe

Industrial Production Dives in the Eurozone, Mirroring the Numbers From Euro Countries

Posted Monday, January 14, 2019 by
Skerdian Meta • 1 min read

A couple of hours ago ,I posted a forex update about the Eurozone production report which was going to be released this morning. I argued there that the chances were pretty high that we have a terrible industrial production report from the Eurozone this morning because all the major European economies such as France, Italy and Germany had some terrible numbers for November.

Well, my prediction was spot on, although it wasn’t hard to read. The Eurozone industrial production numbers were really bad as production declined by 1.7% that month. Below are the figures for that report:

  • Eurozone November Industrial Production -1.7% vs 0.3% expected
  • Prior +0.2%; revised to +0.1%
  • Industrial production WDA -3.3% vs -2.1% y/y expected
  • Prior +1.2%

This is the lowest reading since February 2016. The Euro lost a few pips after the release of this report, but is back to unchanged, so it has ignored yet another terrible economic report from Europe. But, the negative data is piling up and the European Central Bank will have to really acknowledge it at some point.

But until then, the Euro will continue the free ride. When the ECB acknowledges the terrible economic numbers from Europe and turns really dovish, that’s when the Euro will crash.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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