Wednesday, 16 January 2013

EUR/USD – Lower As Eurozone Industrial Data Disappoints

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EUR/USD lost ground as the markets reacted to disappointing industrial data out of the Eurozone on Monday. Both Eurozone and Italian Industrial Production releases were well below expectations, as Eurozone data continues to look weak early in 2013. German releases also continue to be a source of concern after a string of disappointing numbers. Despite the weak data, the euro continues to look strong, and is trading in the mid-1.33 range. After a quiet day on Monday, the US markets are in full swing today, with three key releases – Core Retail Sales, PPI, and Retail Sales.

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