Eurozone Industrial Production Declines in October

Recent data from the Eurostat reveals that industrial production in the Eurozone declined in October in line with a reduction in output of

Arslan Butt•Thursday, December 12, 2019•1 min read

EUR/USD trading on the release of Eurozone industrial production

Recent data from the Eurostat reveals that industrial production in the Eurozone declined in October in line with a reduction in output of capital goods invested. Industrial production in 19 member states that use the Euro as currency declined by 0.5% MoM and by 2.2% YoY.

The monthly decline observed came in as expected while the annual decline was forecast as 2.3%. Production of capital goods reduced by 2% MoM and 3.6% YoY during October even as durable and non-durable consumers goods increased in production during the period.

EUR/USD is trading somewhat bearish following the release of this news and ahead of the release of ECB rates decision and press conference due later today. At the time of writing. EUR/USD is trading at around 1.112.

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Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.